Bitcoin may still be shy of its record high of $20,000 in 2017, but its pandemic-time recovery is making it popular among the large companies.
The king of cryptocurrency has witnessed strong growth this year, record volume trading, and is still flirting with the $12,000 range, though it’s having trouble over the past couple weeks passing the $11,500 resistance level–a key figure crypto traders are monitoring right now.
Many agree that bitcoin’s major upside over the last 10 years has largely been the result of FOMO, a fear of missing out, and even multi-billion companies have succumbed to the temptation.
Payment company Square is the latest.
Earlier this month, the company said it bought 4,709 bitcoins, worth approximately $50 million, which represents about 1% of Square’s total assets.
“Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose,” the company said in a release….CLICK for complete article