Companies BUYING BITCOIN!! What To Look Out For!!
Since last August, Microstrategy has accumulated a whopping 105 thousand BTC worth over 4.8 billion dollars at today’s discounted prices.
Square purchased of over 4700 BTC in October, and Square has purchased an additional 3.3 thousand BTC since that time, totaling nearly 400 million dollars
Though nobody knows exactly how much BTC Tesla actually owns, this is estimated to be somewhere in the neighborhood of 40 thousand BTC
Coinbase holds an estimated 4 and a half thousand BTC on its balance sheets in addition to an estimated 23 thousand ETH, together totaling over 300 million dollars This doesn’t count the 100 million or so dollars Coinbase holds in other as of yet undisclosed cryptocurrencies
📅When Are Company BTC Purchases Announced?📅
Usually, companies will release the earnings reports for each quarter 1-2 weeks after the quarter ends, so that’s mid-March, mid-June, and mid-September. This means we could see more BTC purchases announced in mid-September 2021
This is because Square CEO Jack Dorsey is also Twitter’s CEO, and he recently told Twitter shareholders in call that they must ‘invest aggressively in Bitcoin’
PayPal is reportedly even looking to integrate DeFi and will soon be releasing a QUOTE ‘super app wallet’ which will hopefully feature the deposit and withdrawal functionalities PayPal promised to implement earlier this year
A job posting by Apple in late May looking for a business development manager specialized in alternative payment methods suggests that Apple will soon accept BTC, and holding BTC could be on the horizon if this happens
Amazon recently announced it was looking hire an expert to help them ‘explore’ cryptocurrency payments. Like PayPal and Apple, this could create a slippery slope to Amazon holding BTC on its balance sheets
This is because of a recent job posting which is likewise looking for someone with extensive experience in cryptocurrency to be Walmart’s Digital Currency and Cryptocurrency Product lead What struck me about this job posting is that it specifies the ideal candidate will ‘identify crypto related investments and partnerships’. Sounds like BTC to me!
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.