>Square, Inc. (NYSE: SQ) announced today that it has purchased approximately 4,709 bitcoins at an aggregate purchase price of $50 million.
>The investment represents approximately one percent of Square’s total assets as of the end of the second quarter of 2020.
>Square has open sourced documentation to articulate the process behind the execution of its purchase as others consider similar strategies. The whitepaper can be found at squareup.com/investors.
>Becomes-the-New-Bitcoin-Jesus Fucking cringe. Why are media outlets incapable of talking about crypto without pandering to meme-loving Redditor manchildren?
Thomas Diaz
>The investment represents approximately one percent of Square’s total assets as of the end of the second quarter of 2020. Wow. Sounds like they're just hedging. Smart move, any business with significant cash reserve ought to do something similar.
Landon Jenkins
>hedging ???????????
Gabriel Carter
What's next? Attention and heavy regulation.
Daniel Hughes
U.S. government is giving 3 trillion to niggers so the currency is going to collapse. Bitcoin is a hedge in clownworld.
Henry Carter
This is the argument for why BTC COULD moon harder than most here understand. 0% interest rates implemented by FED until 2023. Negative interest rates in many European countries.................................. If you have 0 BTC.. well good luck.
bitcoin fluctuates in value more than any currency it isn't a hedge, it's a speculative asset
Angel Brooks
50 millions $ is nothing for bitcoin. Just look at the liquidity.
Brandon Walker
I found the retard
Jordan Thomas
>it's a speculative asset Definition of cryptocurrency................ However, like gold, BTC is now starting to become a "store of value". Big players are entering.
Jordan Smith
this, there are fucking whales around here with ~4700 BTC
I hope some actual whales crash the price to 3k and teach these fags to fuck off
the same reason saudis hold the most Tesla stock Banks /will/ own the most bitcoin, either way it goes they win that’s how jews play . The Rona capitulation on bitmex got them in with huge bags and now look at mex, even Arthur’s stepped aside, you didn’t think that was all by accident did you pleb?
Ethan Garcia
>aspirational kek wannabe
Aaron Wilson
just look at the last 3 years or at the recent march dump also a hedge against inflation is a secure investment with small but constant profit, bitcoin is a high risk high reward speculative asset
>Big players are entering. doesn't change the definition of things
Ryan Sullivan
There were many before not so many now. Like most old fags like myself when my portfolio reached a certain number it was good for me. I doubt any poor biztards have more than 3 btc for real not Blockfolio larps. All the guys with bigger totals have sold and are enjoying life
Liam Watson
Y’all also don’t understand the amount of btc on exchanges is super low. You are gonna see a 3k daily wick soon. There just isn’t enough with now companies buying up some and going public with that info but what about private companies and hedge funds? I seriously hope you have at least 2.1 btc and not spread in Alt coins
Tyler Scott
My retirement fund = 8 btc in a safety deposit box 2 hours away so It’s a real fuck around to try and sell it
Nathan Parker
>sounds like they're just hedging
and then another company allocates 1%. and another. and another. and 10 more. then a small country. then apple. then amazon buy a few billion worth.
Gabriel Cox
Completing this thesis: Cash, is trash. For at least the next 3 years. Per, the FED. Companies will hedge.
Alexander Morgan
When it dumps, it'll dump fast. You want instant access. In 2 hours, you'll have already lost everything.
Leo Morales
What happens when they each decide to hedge in a fixed supply asset(the first in history) with lower inflation then gold?
Sebastian White
>reading comprehension A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership
That is LITERALLY the "DEFINITION" of what constitutes a "Cryptocurrency". Moron.
Daniel Fisher
>You want instant access. Never going to make it. Too emotional. You are the "buy high, sell low" guy.
Nicholas Long
Literally, after the bear market, then the rona drop and btc now above where it was before that there’s nobody left who thinks btc is going to “die” even the smarter goldbugs are taking a position. Those who sell and panic every move will never make real money in any market
Daniel Allen
q1 2021 there will be lots of companies doing this. many are probably already planning it but the process takes some time for large companies, they just cant open up binance and market buy.
