Impact of Joe Biden’s election on climate change investments
FRANKFURT (Schroders) – A move by Joe Biden into the White House in Washington – and possibly a Democratic majority in the Senate – could give climate change a huge boost as an investment theme.
Bitcoin price above 11,000 USD: Can this indicator predict the price?
Tokenized Bitcoin on Ethereum and Tron: DeFi adaptation explodes
Bitcoin whales on the stalk.
BTC11,307.84 $ -0.75%
More and more companies are putting part of their capital into Bitcoin. How bullish is Square’s 50 million purchase?
What Jack Dorsey touches turns to gold. In this case, however, the digital counterpart to precious metal is meant. Because as we have already reported, Square (ISIN US8522341036), the publicly traded company headed by Dorsey as CEO, is buying 4,709 Bitcoin Up (BTC) worth $50 million (USD). The $81 billion capitalized company follows MicroStrategy’s example. MicroStrategy had already taken the plunge at the end of September and purchased an astronomical 38,250 BTC with a total value of approximately USD 425 million.
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Although Square’s step is still one or two orders of magnitude away, it is still bullish. After all, the San Francisco-based payment company now earns a large part of its profits from the Bitcoin trade. For some time now, customers have been able to exchange their Fiat money (USD) for BTC on the affiliated Cash App.
Jack Dorsey may be a Bitcoin enthusiast, but he does not seem particularly interested in old coins.
More and more whales
It sounds likely that more and more companies will follow the examples of Square and MicroStrategy in the future. The narrative of devaluing cash reserves provides the necessary arguments. What has been lacking so far, however, is an institutional infrastructure that enables the purchase and storage of large amounts of digital assets.
According to a press release, however, this concern is a thing of the past. The company provides potential imitators with detailed know-how.
A look at bitcointreasuries.org shows just how tight the BTC offer really is. It lists crypto-big players such as MicroStrategy, Square and Galaxy Digital. MicroStrategy alone, with 38,250 BTC, holds the entire Bitcoin offer growth of over 42 days. This is because miners currently generate only 900 BTC per day.
Bitcoin positions of the largest corporate whales. Source: bitcointreasuries.org
In addition, the stock markets are also taking a positive view of Bitcoin positions. Both Square (190 percent growth since the beginning of the year) and MicroStrategy (13 percent since the beginning of the year) have beaten the S&P 500 by far.
Twitter presence of the European Central Bank offers Bitcoiners platform
The ECB makes every effort to explain its unconventional monetary policy and even involves citizens in the dialogue. On Twitter, it is increasingly willing to engage in dialogue.
With moderate success, however. Among the Twitter posts of the euro zone’s top currency watchdogs, the most prominent are comments propagating the spread of the number one crypto currency.
Here Twitter user @ObiWanKenoBit points out that prices are by no means stable, but are subject to constant inflation. In his opinion, Bitcoin would be the alternative.