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SQ - Square invests 1% of the company's assets into Bitcoin. $50 million dollars
Ticker SQ Payments company Square has invested $50 million into Bitcoin, according to an announcement today. It has bought 4,709 Bitcoin, with one percent of the company's assets.
“We believe that Bitcoin has the potential to be a more ubiquitous currency in the future,” said Square’s chief financial officer, Amrita Ahuja. “As it grows in adoption, we intend to learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey.”
Square is owned by Jack Dorsey, the CEO of Twitter (and enthusiastic Bitcoin advocate). Square also owns CashApp, which has been offering Bitcoin for some time now. Dorsey has previously said that he regularly maxes out the weekly Bitcoin buy limits on CashApp. Square has been investing in crypto for some time. It set up Square Crypto in March 2019 to support the development of the Bitcoin network. It has handed out a number of grants to Bitcoin developers and companies working in the space. This investment follows business intelligence firm MicroStrategy buying $200 million of Bitcoin as an investment, before buying another $175 million of Bitcoin. source https://decrypt.co/44319/square-invests-50-million-in-bitcoin?utm_source=reddit&utm_medium=social&utm_campaign=sm
u/Dm_Me_Your_Bitcoin Explains how America forced most of it's People of Color to migrate to large coastal states in their parents & grandparents generations; then geographically made their votes worth 1000+ times less than that of their mostly white counterparts, that live in the middle states
No one could have known that Trump would pull the plug on negotiating another stimulus bill, but everyone knows that another block will be added to Bitcoin's blockchain approximately ten minutes from now... Bitcoin is more certain than any other monetary system in the world.
The real news is that Bitcoin is so liquid that it can swallow Square's $50m buy without any sizeable impact on price. The same can be said about MicroStrategy's $425m buy. Bitcoin's liquidity is already sufficient for the herd that's coming.
Through its ownership stakes in MicroStrategy (2.02%) and Square (0.83%), the Norwegian Government Pension Fund now indirectly holds 811.73bitcoin (~9.2m USD). This is equivalent to 15103 sats per Norwegian citizen.
Coinbase's CEO Brian Armstrong is a hero for not making Bitcoin about race
It started back in June, amid the nationwide protests over the death of George Floyd, when Brian Armstrong, the company’s extremely introverted cofounder and CEO, was asked a question at an employee town hall about why Coinbase had not shown public support for the Black Lives Matter movement. Armstrong declined to give a clear answer, according to crypto news site The Block, and his avoidance resulted in a virtual walkout by “hundreds” of Coinbase’s 1,100 employees on June 3.
In response, Armstrong has made Coinbase's mission clear: it's not political. He has given severance packages to employees who disagree. And this, I believe, is how any business ought to be run. If you want to make *everything* political, you should join a political party. Corporations and businesses are not political. It's no different from the separation of Church and State. You ought to separate business from political, especially the feverish social-justice-warrior kind. I think Armstrong deserves some goddamn respect for having a spine. FYI- Bitcoin isn't about race. It isn't a "white supremacist" technology. Most Bitcoin miners are living in China. It's a global asset. Inventor Satoshi Nakamoto specifically designed Bitcoin to be able to process transactions on slow third-world internet connections (and it does work in Africa, and India, too). Bitcoin was always, first and foremost, a *human* technology, for everyone to use to avoid financial censorship. Insurgent employees trying to blackmail their own CEO into making everything about race IS NOT OK.
Investors including me have been sinking money into it for years, but I've never seen anyone plunking the rare metal down when they buy daily utilities. Do you guys actually use your precious BTC? EDIT: What platforms do you use to make your purchases?
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