US Listed Company Adopts Bitcoin as their Treasury Base Currency
One by one people are doing their research and arriving at the same conclusion about money. That conclusion is that fiat currency is being debased and that Bitcoin, Silver and Gold are becoming a more and more important asset to hold as a store of value.
I had never heard of Microstrategy until news broke that they had made the decision to manage their treasury reserves in Bitcoin. Microstrategy is an impressive company. They estimate they need USD 50 million in working capital to execute on their strategy and that the excess USD 500m they hold can be returned to shareholders (via share buybacks) and invested in alternative long term assets to underpin the Company's. Thus far they have purchased USD 425m in Bitcoin.
To understand more about Microstrategy and their decision to invest in Bitcoin please listen to their Q2 2020 Earning Call here. Or you can read about what their Chairman and CEO said about Bitcoin here.
I fully expect many other listed companies to do the same over the next few months.