MSTR let the genie out of the bottle, and now it's spreading...
The CEO of MSTR made headlines a few weeks back when he announced his company had invested roughly $425 million into bitcoin.
This from a company that previously had little to no ties to bitcoin or cryptocurrency.
The announcement was for the company to put much of their treasury into bitcoin due to their belief it would outperform many other assets, especially cash, over the coming years.
Then, in news out this morning, Jack Dorsey did something that shouldn't really come as a surprise for many...
In fact, I predicted this very thing a couple weeks back:
Not to say I told you so, but... :)
Today, Square announced that they had invested $50 million into bitcoin, a number that represents roughly 1% of their total assets.
Check it out:
Specifically saying:
“Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose,”
The virus is spreading...
I'm not talking about the coronavirus, though that is spreading as well.
Several companies are starting to use their cash reserves to buy up bitcoin.
A move that I wasn't expecting at all when I was deducing who might be interested in buying bitcoin as we move forward.
Family offices, sure.
Mutual funds, possibly.
Private Equity Funds, you bet.
Other financial institutions, absolutely.
Fortune 500 companies, nope wasn't factoring them in at all...
Given this new group of bitcoin investors that I hadn't originally been factoring in, if bitcoin doesn't hit $100k within the next several years I will be absolutely shocked.
Stay informed my friends.
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-Doc
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Bitcoin is making the headline news day in day out and i am wondering why some merchants haven't looked into accepting crypto as payment.
Anyone can easily accept crypto as payment through https://nowpayments.io/
The legacy system is to blame. Old rules no longer work or apply. Game over.
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It starts slowly at first then a bunch of companies are adding bitcoin...
Looks like we hit the post button at the same time! 😎
https://hive.blog/hive-126009/@cryptographic/the-trend-continues-another-big-bitcoin-buyer
Great minds think alike! It's very big news and hopefully is the start of corporations adding bitcoin to their balance sheets...
Less bitcoins floating around
eventually the value will appreciate
This news may not cycle properly
but being in the sphere for a while
it is coming for good.
Live long crypto!
It's very good news and hopefully the start of a trend.
and apart from the family offices, they are probably going to be the most aggressive of all
Equity funds and hedge funds tend to be pretty aggressive. Though, they may end up being the largest investors interestingly enough.
I'm certainly expecting to see some sort of gain in bitcoin, I'd prefer it to be somewhat steady though, sorta appreciating in value rather than extreme volatility.
It probably will be at first. I mean the volatility right now is pretty low... It's near the lowest levels its been over the last several years.