There is now a confirmed report that Square inc just bought Bitcoin which is actually worth $170 million, the revelation was made by the company during their fiscal fourth quarter financial report which was made earlier on Tuesday....
The company actually made it known that they purchased up to approximately 3,318 bitcoins, and that is an expansion of the purchase of 4,709 bitcoins which they first purchased on Oct. 2020
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Square inc have said that actually represents about 5% of the total asset of the company....
Jack Dorsey who is the CEO of the company said that “The investment is actually part of their own ongoing commitment to the bitcoin and what they believe in the cryptocurrency world.....
He also said that the company plans to keep investing on Bitcoin because he believes it is a good investment.....and that he is a firm believer of cryptocurrencies....
So much more Companies are increasingly loving to invest into Bitcoin as it is seen to become more mainstream.....
Even tesla inc joined the party when they also announced earlier this month that they have acquired $1.5billion worth of Bitcoin to further diversify their other investments.......
The more investments on the Bitcoin market then the more it will keep having more value which would also lead appreciation in price value...
Bitcoin might reach $200000 and above this year if more people keep investing on it the way it is happening already.....