Is it time to buy Bitcoin since it has dipped significantly in the past couple days? Square thinks so.
Square had previously made a purchase of $50 million bitcoin. They recently publicized another purchase of bitcoin, $170 million worth (about 3,318 bitcoins). This means that they now have approximately 5% of their total cash, cash equivalents, and marketable securities in bitcoin.
The press release states:
Square believes that cryptocurrency is an instrument of economic empowerment, providing a way for individuals to participate in a global monetary system and secure their own financial future. The investment is part of Square’s ongoing commitment to bitcoin, and the company plans to assess its aggregate investment in bitcoin relative to its other investments on an ongoing basis.
Sources: https://seekingalpha.com/… | https://seekingalpha.com/…
Scared by a 20% Bitcoin Correction?
Rather than selling your BTC, think about accumulating more.
On February 19, 2021, Bitcoin surpassed the $1 trillion market cap for the first time in its history. By surpassing the price of $53.7K, Bitcoin managed to do in just 12 years what the fastest GAFAM had taken 21 years to achieve. It is Google.
Source: https://www.inbitcoinwetrust.net/…
You may want to read this article by Sylvain Saurel as he also explains how March is usually not the most friendly month for Bitcoin, but since we are still in the midst of a bull market for bitcoin, or the scaling up phase from a market cap perspective, you might want to do some ‘cumulatin’ in March.
