Microstrategy listed on NASDAQ is the largest independent publicly-traded business intelligence company. The company decided to invest a portion of its excess capital in BTC and as part of that invested $425 million in bitcoin. Its CEO Michael J. Saylor said, “Our investment in Bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders.”
You can read more here in the press release: https://ir.microstrategy.com/news-releases/news-release-details/microstrategy-adopts-bitcoin-primary-treasury-reserve-asset
Square is the second company on NASDAQ to follow the suit and has invested $50 million in BTC. Jack Dorsey who is the CEO of both Square and Twitter, with his twitter profile showing the BTC symbol, has been a proponent of bitcoin and also owns BTC personally.
Jack Dorsey, CEO, Twitter – profile shows the BTC symbol
Jack said in an earnings call to investors, “Bitcoin, for us, is not stopping at buying and selling. We do believe that this is a transformational technology for our industry and we want to learn as quickly as possible.”
Recently Square launched the nonprofit Cryptocurrency Open Patent Alliance. The objective is to keep cryptocurrencies technologies that have been built from open communities’ efforts, protected from patent leechers. Companies with less than $10 million revenue can become a member for free.
These developments in the industry could be the beginning of a new trend where companies looking for better investment opportunities, start considering BTC as a better store of value in the long run.