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The Market Reacts to Square’s $50M Bitcoin Buy
Reactions from Bitcoin Twitter and beyond as Square puts 1% of its treasury assets into bitcoin.
Updated Sep 14, 2021, 10:06 a.m. Published Oct 8, 2020, 4:16 p.m.
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Reactions from Bitcoin Twitter and beyond as Square puts 1% of its treasury assets into bitcoin.
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This episode is sponsored by Crypto.com, Nexo.io and Elliptic.
A special breaking edition of The Breakdown follows the market’s reaction to Square’s surprise $50 million bitcoin investment.
NLW breaks down the foundations for the investment, including:
- 2020’s alignment between the bitcoin narrative and structural economic realities
- An increase in bitcoin’s perceived resilience
- The precedent set by MicroStrategy
He also discusses the market’s reaction, from the (potential) connection to Coinbase’s “apolitical” stance from last week to the notion of Square intentionally setting a framework others can follow.
See also: Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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- Bitcoin’s price movement aligns with quantum computing stocks, suggesting a broader market trend rather than a specific quantum risk factor.
