Bitcoin Enters Big League

square hq

Bitcoin and for now only bitcoin, has gone next level with the asset becoming part of company portfolios. The incredible money printing we have experienced this year has made many CEOs and company boards nervous about sitting in cash. Usually cash is the preferred method of parking money for companies until its decided what to do with it, but the new FED policy of targeting higher than 2% inflation means sitting on cash can now be a costly activity. So when MicroStrategy announced they were diversifying into bitcoin, some where surprised but they had a decent argument in regards to fiat losing its value. Now that Square has announced they bought $50 million bitcoin however, plenty are wondering whether we are witnessing the beginning of a new trend. The purchase of bitcoin by Square is interesting because they allocated 1% of their assets to the new digital gold. Meaning this…

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