Corporate Bitcoin treasuries are here, which can only mean good things
Cointelegraph
Published Nov 21, 2020 04:21AM ET
Updated Nov 22, 2020 09:20AM ET
Holding Bitcoin (BTC) in treasury will soon become a corporate standard. Wall Street firm MicroStrategy recently made headlines when it decided to allocate a large portion of its treasury to Bitcoin, buying over 21,000 BTC in August and almost 17,000 more in September, making its CEO, Michael Saylor, seem quite prescient already. MicroStrategy stock rallied just like BTC as well — by 50%. According to Saylor, Bitcoin was the best inflation hedge and store of value, and in his words, “Cash is trash.” His wager has, so far, been handsomely rewarding.
Related: MicroStrategy buying Bitcoin shows institutional investors seek to de-risk
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Written By: Cointelegraph
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