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Meet the 30 Private & Public Companies with Bitcoin Reserves Totaling Over $55 Billion
BitGo, the leading digital asset financial services company, issued a blog post discussing 30 private and public companies that are the first movers to add Bitcoin to their balance sheet or portfolios.
Bitcoin has attained newfound ubiquity over the past year, with prominent figures ranging from Bridgewater s Ray Dallio to Tesla s Elon Musk acknowledging the viability and utility of the asset class. Often referred to as ‘digital gold, Bitcoin is supported by a resilient, peer-to-peer global ledger called a blockchain. Like gold before it, Bitcoin is perceived to be a hedge against rising inflation of the dollar and other global fiat currencies. Bitcoin s popularity and adoption as a reserve asset has further increased over the past year due to the fallout from the Covid-19 pandemic and subsequent monetary expansion.
Twenty-one years ago, the Bank of Japan (BoJ) knocked interest rates to zero, hoping to fire up the economy. It was the first time any central bank had adopted such a radical monetary policy. Public debt levels surged to the highest globally, but Japan never made it out of the ranks of low-growth economies. Recently, such fear has re-emerged in certain parts of the world. The concern is that Japan is the “preview movie” for what is going to happen to some other developed economies.
Ushering In A Bitcoin Standard: Marathon Buys $150 Million Of Bitcoin – Bitcoin Magazine bitcoinmagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bitcoinmagazine.com Daily Mail and Mail on Sunday newspapers.
More institutional adoption as Marathon Patent Group purchases $150M in Bitcoin CEO Merrick Okamoto said the crypto purchase would help make Marathon an appealing choice to investors seeking exposure to this new asset class. 9404 Total views News
Nevada-based crypto mining firm Marathon Patent Group has invested $150 million in Bitcoin as a reserve asset.
Marathon announced today that it has purchased more than 4,812 Bitcoin (BTC) for $150 million through the New York Digital Investment Group an average price of $31,168 per coin. Chairman and CEO Merrick Okamoto said the move was “a better long-term strategy than holding US Dollars,” comparing the Bitcoin purchase to companies like MicroStrategy, the business intelligence firm that made an initial $425-million crypto investment last year and has since bought more coins.
Bitcoin investment gaining traction
By Lee Kyung-min
Bitcoin has quadrupled in value over the past year, increasingly emerging as a new vehicle of investment on the back of continued global uncertainty concerning the COVID-19 pandemic and volatile oil prices.
The uptrend is driven in part by institutional investors seeking to diversify their asset portfolios, a robust move sustained by individual retail investors who believe the digital currency would not be embraced by the large group of global market participants known to prioritize long-term stability over short-term profit unless they have a solid earnings prospect.
The year-long price spike in the once-frowned-upon method of investment is considered largely a vindication by many investors long criticized for engaging in digital transactions that some deem unsafe, akin to gambling and even morally questionable.