The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

One of the Most Seminal and Legitimizing Events in Bitcoin History Flying Under the Radar, Says Galaxy Digital

by Daily Hodl Staff
September 13, 2020
in Altcoins, Bitcoin, Ethereum

Crypto investment firm Galaxy Digital says Bitcoin has pulled off one of the most important events in its nearly 12-year history.

In a new market report from Galaxy Fund Management, portfolio manager Paul Cappelli points to the fact that software giant and intelligence firm MicroStrategy just purchased $250 million in Bitcoin as a monumental event that’s flying under the radar.

“…unbeknownst to many casual observers, August saw one of the most seminal and legitimizing events for the space to date. MicroStrategy Inc., a business intelligence software firm publicly traded on the NASDAQ (ticker: MSTR), announced a balance sheet investment of $250 million into bitcoin. This represents nearly 20% of the firm’s overall cash position, with CEO Michael Saylor citing that cash returns were fading amidst a weakening greenback.”

Galaxy Digital says the corporate Bitcoin buy could be a sign of what’s to come as a growing number of money managers question the future of the US dollar amid trillion-dollar stimulus measures and global economic instability.

“While it is unclear how many other companies have chosen to use working cash to invest in Bitcoin under the current macro environment, this could be an indication of what is yet to come as a sophisticated base of investors consider the long-term impact of inflation due to Covid-19, unprecedented government stimulus, and global political, social, and economic uncertainty.”

In a recent interview on the What Bitcoin Did podcast, the pseudonymous analyst PlanB also underscored the importance of the move. He says the investment is essentially an ETF, offering Wall Street investors a simple way to gain exposure to BTC.

“I was thinking banks, pension funds, maybe countries [would invest in Bitcoin]. But never, ever did it occur to me that listed companies would do that as well. Of course, they have the same problem with all that cash on their balance sheet. Especially in Europe, with negative interest…

And if there are listed companies, I noticed that a lot of people didn’t see the importance of what MicroStrategy did. But because it’s a listed company, it means that people can put Bitcoin or Bitcoin exposure in their pension funds. They could just call their broker and they can’t say ‘get me some Bitcoin in my pension fund,’ but they can say ‘get me these companies because those are my pension scheme.’ And in that way, you could see MicroStrategy as an ETF.”

In its announcement, MicroStrategy offered two primary reasons for its groundbreaking investment in BTC.

The firm says it believes the leading cryptocurrency offers not only a potential hedge against inflation, but also a higher chance of earning large returns when compared to other investments.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/agsandrew

Submit a Press Release

Industry Announcements

  • Addressable Raises $7.5 Million To Enable Web 3.0 Companies To Acquire Users at Scale
    January 31, 2023
  • SIMBA Chain Awarded $30 Million US Air Force STRATFI
    January 31, 2023
  • Bunzz Raises $4.5 Million Seed Round To Expand Its Smart Contract Hub for DApp Development
    January 24, 2023
  • Dogecoin and Shiba Inu Better Watch Out – Floki Just Had Three Big Things Happen for It
    January 24, 2023
  • Crypto Marketing – What Initiatives Will Bring More Value and Users in 2023
    January 23, 2023
  • Make Crypto Payments on BChat Web 3.0 Messenger – BChat Integrates Beldex Wallet
    January 22, 2023
  • KEY3.id Supports Multi-Chain Transaction, Partnership With KuCoin Wallet, CoinHub Wallet and Wallet3 To Launch 2023 Lucky Transaction Campaign With Over 30,000 Participants on Social
    January 20, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$22,976.16
$22,976.16
1.02%
Ethereum
$1,578.53
$1,578.53
1.41%
Cardano
$0.387897
$0.387897
4.75%
XRP
$0.4066
$0.4066
3.13%
Dogecoin
$0.095438
$0.095438
9.88%

Spotlight

  • Web 3.0 Adoption Requires Education, Better Security and Realistic Expectations
    January 25, 2023
  • Anthony Scaramucci’s Skybridge Capital Suffers 39% Loss in 2022 Amid Brutal Crypto Bear Market: Report
    January 28, 2023
  • Analyst Benjamin Cowen Issues Crypto Warning, Says Bitcoin (BTC) Rally Likely Unsustainable – Here’s Why
    January 24, 2023
  • Leading Crypto Analyst Dives Into Bitcoin and Ethereum, Says Two Altcoins Are ‘Going Through the Roof’
    January 26, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl