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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Takara, meaning treasure in Japanese is a new bitcoin based geocaching application that allows users to plant bitcoin across the world for other app users to find. The game comes integrated with Breadwallet along with an option to connect other bitcoin wallet applications. Takara can also be a powerful marketing tool. The latest iOS application by MandelDuck, Takara allows its users to go out on an adventurous quest for bitcoin. The map on Takara shows locations where the treasure (read bitcoin) is planted. Those interested in the treasure hunt can find the nearby places where bitcoin is....
U.K.-based crypto firm BCB Group is looking to provide corporations with a way to put Bitcoin on their balance sheet by launching a dedicated treasury. BCB Group, a global digital financial services firm, is planning to help corporations navigate cryptocurrencies like Bitcoin (BTC) by launching a dedicated service.According to a Feb. 19 announcement, BCB Group has launched BCB Treasury, a new service designed for corporate treasury departments seeking to get involved in Bitcoin à la Tesla. The new service aims to provide a specific solution enabling access to treasury management for....
A non-fungible token market platform built on top of Arbitrum called Treasure DAO was hacked on March 3 at 7:33 a.m. (EST), according to a post mortem analysis authored by the security-focused firm Certik. The company’s report notes that “over 100 NFTs were stolen in the attack,” as the attacker leveraged a vulnerability in the marketplace’s “buyer buy item” function. Post Mortem Analysis by Certik Shows Arbitrum NFT Trading Platform Treasure DAO Exploited for More Than 100 NFTs The leading Arbitrum NFT marketplace Treasure DAO was attacked on....
If you need reassurance on just how early you’re to Bitcoin, head to Fortune.com. They interviewed the managing director of Treasury Partners, Jerry Klein, to find out if corporations are thinking about Bitcoin as a store of value. Short answer, “Not one of our clients has expressed interest in Bitcoin.” Good to know. But let’s […]
Dan Nathan, the founder of Risk Reversal Advisors, says that the U.S. government will not keep allowing corporations like Elon Musk’s Tesla to replace dollars with bitcoin. They won’t “let the dollar fall away from being the reserve currency for the world,” which could happen if corporations keep replacing dollars in their balance sheets with bitcoin. US Government Will Not Let Bitcoin Replace Dollars, Says Risk Reversal Advisors’ Chief Dan Nathan offered his view on the future of bitcoin in an interview with CNBC last week. His comments followed the news of....