- Square, Twitter CEO Jack Dorsey’s payment company, has purchased $50 million worth of bitcoin.
- The investment represents approximately 1% of Square’s total assets as of Q2 2020.
- Square has become the second publicly-listed company after MicroStrategy to invest in bitcoin.
Every time the bored Twitter CEO, makes a statement on Bitcoin, I respond back with a chart. Apparently year 2017 had the happiest Christmas ever., when the value of Bitcoin reached an all-time high of $19650 as recorded on 15th Dec 2017. And exactly a year later on 15 Dec 2018 it dropped to $3183, I’d like everyone to draw their conclusions.
Unless Bitcoin becomes a commonly accepted utility, it will probably remain in this price range, as a volatile digital commodity.