More and more companies are putting part of their capital in Bitcoin. How bullish is Square’s 50 million purchase?
What Jack Dorsey touches turns to gold. In this case, however, the digital counterpart to the precious metal is meant. Because as we already know, buys Square (ISIN US8522341036), the listed company, Dorsey as CEO protrudes, 4709 Bitcoin (BTC) worth 50 million US dollars (USD). The company, which is capitalized with USD 81 billion, is following the example of MicroStrategy. MicroStrategy had already taken the plunge at the end of September and bought an astronomical 38,250 BTC with a total value of about 425 million USD.
While the move from Square is still an order of magnitude away, it is still bullish. After all, the San Francisco-based payment company now makes a large part of its profits from Bitcoin trading. Customers have been able to exchange their fiat money (USD) for BTC on the affiliated cash app for some time.
Jack Dorsey may be a bitcoin enthusiast, but he doesn’t seem to be particularly interested in altcoins.
It sounds likely that more and more companies will follow the examples of Square and MicroStrategy in the future. The narrative of the depreciating cash reserves provides the necessary arguments. What has been missing so far, however, has been an institutional infrastructure that enables the purchase and storage of large quantities of digital assets at all.
A press release according to, however, this concern is a thing of the past. The company provides potential imitators with the appropriate know-how in detail.
A look at bitcointreasuries.org shows how scarce the BTC supply really is. It lists crypto big players such as MicroStrategy, Square, or Galaxy Digital. MicroStrategy alone holds the entire Bitcoin supply growth from over 42 days with 38,250 BTC. Because currently, miners only generate 900 BTC per day.
In addition, the stock markets also favorably evaluate Bitcoin positions. Both Square (190 percent year-to-date growth) and MicroStrategy (13 percent year-to-date) have beaten the S&P 500 by far.
The ECB goes to great lengths to explain its unconventional monetary policy and even involves citizens in the dialogue. She is more and more willing to talk on Twitter.
However, with moderate success. The Twitter posts by the top currency watchdogs in the euro area include, above all comments, that propagate the spread of the №1 cryptocurrency.
Here, Twitter user @ObiWanKenoBit points out that prices are by no means stable, but are exposed to constant inflation. In his opinion, Bitcoin would be the alternative to this.
Disclaimer: These lines are not a substitute for investment advice, investments in the crypto market are made at your own risk. Invest only as much as you are willing to lose. I get commissions for purchases made through links in this post.”