Payment service Square, which is headed by Twitter CEO Jack Dorsey, bought 3,318 bitcoins worth $ 170 million. The cryptocurrency accounts for approximately five percent of the company’s marketable assets in 2020, according to Square’s report.
In October 2020, Square has already invested tens of millions of dollars (about 50) in bitcoins. The company noted that it intends not to sell cryptocurrency for a long time. Square noted that they will report losses from the decline in the value of digital assets, and the profit from them will be disclosed only after the sale.
Tesla, which bought $ 1.5 billion worth of bitcoins in January, has already earned $ 1.08 billion from it. By February 19, the funds rose to $ 2.58 billion. At the same time, Bitcoin turned out to be more profitable for Tesla than car sales. In 2020, sales brought the auto giant $ 721 million. Tesla is the second-largest publicly traded company with the largest bitcoin portfolio. MicroStrategy Inc. remains the leader of the list
The most popular cryptocurrency on the planet set a new historical record on February 20 and broke through the mark of 57 thousand dollars per coin. Since the beginning of 2021, Bitcoin has risen in price by more than 90 percent. However, on February 23, the price of bitcoin plummeted by more than 10 percent to $ 49,169 in a few hours.