Companies Have Now Invested $10 Billion in Bitcoin

company bitcoin holdings oct 2020

Publicly traded companies and other businesses currently hold some $10 billion worth of bitcoin. Cutting edge MicroStrategy inc. has the most at half a billion dollars, followed by asset management firm Galaxy Digital Holdings according to a stats site. Square is third with $50 million worth of bitcoin, while the rest are mainly crypto related save for a newcomer, Mode Global Holdings. “The LSE-listed Fintech Group, announced today that it has allocated up to ten percent (10%) of its cash reserves to purchase Bitcoin and adopt it as a treasury reserve asset,” the company said before further adding: “The move is part of Mode’s long-term goal to protect investors’ assets from currency debasement. With UK interest rates at a record low of 0.1%, Mode is also seeking to diversify away from low-interest money market instruments in order to maximise the value of returns from its recent fundraising.” Bitcoin is thus…

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