Cryptocurrency News | Major companies buy Bitcoin. The reasons provide important investment insights [Ōhira]
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FX history since 2009, cryptocurrency history since 2015. Leveraging cryptocurrency investments and past experiences, I distribute cryptocurrency information on major newsletter and investment sites. I participate in numerous individual investor networks and share the knowledge gained from many investors. Since 2016, I have been running a cryptocurrency investment information site that beginners can learn from.
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※This article is a reprint and revision of an article from FX Strategy.com January 2021 issue. Please note that the market information stated in the text may differ from the current market.
Bitcoin prices rising again
In 2020, there has been more news of large companies buying Bitcoin. In August 2020, MicroStrategy, a Nasdaq-listed company, began purchasing Bitcoin totaling over 40 billion yen from August 1, which became big news.
Subsequently, global payment company Square and Stone Ridge Asset Management, a fund manager with about $10 billion, purchased Bitcoin, drawing further attention (Table ①). In an era where large corporations hold Bitcoin, they say they will hold Bitcoin for mid- to long-term.
Understanding why to hold Bitcoin is a very important clue for understanding future economic trends. Bitcoin dropped to nearly 500,000 yen during the mid-March 2020 COVID-19 shock, but by October 28 it had reached 1,400,000 yen.
