2 NASDAQ listed companies invested in BTC in the past 2 months – is a new trend starting now?

Corporates in BTC

First, it was Microstrategy, and now Square, who will be the next corporate to invest in bitcoin?

 

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

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.”

 

If you are a corporate and want to know how to invest in BTC, read Square white paper on the same. or you can contact DataBlock Technologies to help you with this.

 

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.

1 Comment on 2 NASDAQ listed companies invested in BTC in the past 2 months – is a new trend starting now?

  1. In current testing times, I won’t be surprised to many more corporates following and putting part of their treasury in BTC.

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