Square added $170M in bitcoin to its reserves last quarter, while MicroStrategy announced a fresh $1B bitcoin buy today.
This episode is sponsored by Nexo.io.
Today on the Brief:
- Fed Chair Jerome Powell comments on markets and digital currency
- Cathie Wood’s ARK faces toughest stretch since last September
- India’s latest anti-crypto sentiment
Our main discussion: More news on corporate bitcoin buying. NLW discusses:
- Square’s Q4 and overall 2020 bitcoin performance in terms of revenue and profit
- Square’s latest bitcoin purchase of ~3,300 BTC for $170 million
- MicroStrategy’s latest >$1B bitcoin purchase, bringing the total to more than 90,000 BTC
- Why these announcements are losing their power to move markets
See also: MicroStrategy, Square Bought Bitcoin High, Then the Price Fell
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