- October 31, 2020 8:31 PM
The next big treasure: Corporations buy up Bitcoin as a treasury reserve
- October 17, 2020 5:31 PM
- Cryptocurrency News
The next big treasure: Corporations buy up Bitcoin as a treasury reserve | COSS Exchange
The next big treasure: Corporations buy up Bitcoin as a treasury reserve October is a time for surprises. On Oct. 8, right on cue, mobile payments giant Square, which boasts a market cap of $86.6 billion, announced that it had invested $50 million in Bitcoin (BTC). Five days later, asset manager Stone Ridge Holdings, which manages over $10 billion in assets, disclosed that it had purchased more than 10,000 BTC, worth around $114 million, as part of its treasury reserve strategy. They both followed MicroStrategy, a Nasdaq-listed asset manager, which made known last month that it had accumulated $425 million in Bitcoin, making BTC the principal holding in its treasury reserve strategy.