Who is moving to Bitcoin? What about your plan?
- A total of 13 publicly listed companies now possess almost $7 billion in Bitcoin.
- Microstrategy, Galaxy Digital, Square, and Grayscale are among the biggest companies looking after or owning this Bitcoin.
- The trend suggests that public companies are no longer adverse to Bitcoin as a hedge in an increasingly uncertain economy.
Over $6.7 billion of Bitcoin is now held by public companies, including US software giant MicroStrategy; asset manager Galaxy Digital, and Jack Dorsey’s payment processing platform, Square, according to Bitcoin Treasuries. This amount includes some companies holding the Bitcoin on behalf of their investors, like asset manager Grayscale Investments.
The sum rose in recent weeks, with new investments from Microstrategy and Square. The trend signals increasing interest in Bitcoin as a store of value, and a hedge during economic uncertainty—by publicly-traded companies as well as individual investors.
We are in amazing times. Recently I started thinking about how we learn a language and start using it in our spoken and written exchanges. It is like the way we think and speak about cryptocurrency. Bitcoin is teaching us a new language. What is a token? What is a coin, an altcoin? What is Bitcoin? What is Etherium? How do blockchains differ?
Well it is time to think in Bitcoin. Bitcoin has been to this date considered an asset, property and many governments are looking at a way to tax the property or asset as they do real estate or gold. But it is not clear if they want to tax as they do a home or to tax it as they consider it an asset changing hands, taxing the gain on the result. Maybe both.
Bitcoin is quickly becoming a network, an opensource monetary network. So we have a choice. Do we stay on a fiat, print money currency or do we move to a Blockchain that is governed by rules (program code) or by rulers, printers of fiat, which is becoming worth less daily?