The next big treasure: Corporations buy up Bitcoin as a treasury reserve

The next big treasure: Corporations buy up Bitcoin as a treasury reserve

The entry of firms like Square, MicroStrategy and Stone Ridge may open the BTC floodgates and provide “confidence for the rest to follow.” October is a time for surprises. On Oct. 8, right on cue, mobile payments giant Square, which boasts a market cap of $86.6 billion, announced that it had invested $50 million in Bitcoin (BTC). Five days later, asset manager Stone Ridge Holdings, which manages over $10 billion in assets, disclosed that it had purchased more than 10,000 BTC, worth around $114 million, as part of its treasury reserve strategy. They both followed MicroStrategy, a....


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Stone Ridge Calls Its $114M in Bitcoin ‘Primary Treasury Reserve Asset’; NYDI...

NYDIG raised the $50 million from FinTech Collective, Bessemer Ventures and Ribbit Capital.