A new milestone for the crypto world: Bitcoin is adopted as Primary Treasure Reserve Asset by a billion-dollar company

A Nasdaq-listed MicroStrategy acquired over 21K BTC on Tuesday after spending 250M USD in the deal thus adopting BTC as a treasury reserve asset.
The company announced that the event is a part of a different allocation strategy that has been accepted recently pursuing the goal to increase the value of assets in the long term. This decision reflects the belief of the firm in the BTC value as a globally-accepted coin, hence a profitable asset with huge potential.
The significance of this move can’t be underestimated. The company accepted Bitcoin as an investment asset that has benefits over cash. Michael J.Saylor, the CEO, is sure in the Bitcoin superiority over the fiat assets in the current conditions of instability that is deteriorated by unfavorable circumstances caused by COVID-19.
Many experts speak about the risks of dollar inflation amid the economic consequences of COVID-19 and the incompetence of government measures aimed at stimulation of the economy but, actually, killing the US economy. The specialists of the agency consider that it will bring to the soaring of BTC price up to $ 75,000.
In June, Fed Chairman Jerome Powell promised to keep pumping new money into the economy by issuing new dollars if necessary. The cryptocurrency industry participants interpreted this statement as a signal to buy bitcoin.

It took months for the company to decide upon its allocation strategy. The resolution concerning Bitcoin investment is explained by a combination of macro factors changing the business landscape.
At this, the company assessed the Bitcoin potential and came to the conclusion of its higher return in comparison with other kinds of investments due to a range of factors such as wide acceptance, the vitality of its eco-system, brand popularity, technical utility, and the resilience of architecture. The mix of these features make Bitcoin superior to other assets, consequently, a better alternative for those who need a long term store of value. The company called Bitcoin digital gold. MicroStrategy press-release says that in comparison with money that ever existed, this currency is smarter, faster, and more reliable.

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