Square invests $ 50 million in Bitcoin
The first coin is still relevant and attractive for serious investments. Despite the many alternative projects that exist in the crypto industry, the first cryptocurrency is still popular today. This is confirmed by market statistics, and the current value of the coin, and investments from companies. By the way, literally today about 50 million dollars were invested in the first cryptocurrency. A fairly large investment came from Square, which announced its own intention to continue working with BTC. Next, we will look at the details of the investment. And also evaluate the first cryptocurrency to understand how much it is in demand in 2020. So let’s get started.
A little about Square
Of course, as usual, we first deal with the company. The first step is to discuss the details of the enterprise. Many of our readers have probably never heard of Square at all. Especially for them – brief information about the company. This is a fairly young company that has been on the market only since 2009. Nevertheless, even for a relatively short period of its existence, the company has already managed to earn a reputation as a serious and reliable player in the industry.
The American technology company is engaged in the creation and improvement of ready-made solutions in the field of electronic payments. Therefore, it is not surprising that the representatives of the firm became interested in the cryptoindustry and the first coin. It was Bitcoin that became the basis for fundamentally new monetary relations. And it is thanks to Bitcoin that today we can transfer money quickly and relatively confidentially. It is obvious that a company with a large status and no less large cash turnover can afford an investment of $ 50 million.
Should BTC be trusted at the end of 2020?
2020 is gradually ending, and therefore many are interested in how to end this difficult period and what monetary instruments to use in the new year. Let’s put it this way: Bitcoin is going through a pretty good period right now. After significant price drops in September, the coin started to grow quite confidently and almost returned to the values of September 19. At the moment, the first currency is worth $ 10,911 and continues to grow.
The indicators of market activity and general market dynamics are also in order. Bitcoin is still interesting, still has potential for growth and attracts new users. So we can answer the question posed earlier: yes, you can and should work with Bitcoin at the end of 2020. What will 2021 bring? This remains to be seen. But we have no doubt that the first cryptocurrency will gain momentum and grow relentlessly. Including thanks to Square’s investments.
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