Many listed companies or corporations in the United States have purchased Bitcoin as an asset. In fact, there are 4 more corporations that are said to be buying up Bitcoin. Who are they?
This massive corporate purchase led to a significant increase in prices. Naturally, because they buy with trillions of rupiah or millions of dollars.
So far several corporations in the United States have bought Bitcoin. They include Micro-strategy Inc, Tudor Investment Corp, Square Inc, and several other companies.
Finally, there is Tesla Inc. company outside of the first financial corporation to buy Bitcoin. They all buy Bitcoin with a value of millions of dollars or trillions of Rupiah.
Why Corporate Bough Bitcoin?
They buy Bitcoin and turn it into an asset. Why do they do this?
Because Bitcoin is considered a safe haven asset during a pandemic or an asset that increases in price when other assets fall. Apart from that, Bitcoin is also valued as a good inflation hedge.
That is, the increase in Bitcoin is higher than the inflation that occurs annually. In fact, last year, Bitcoin recorded an annual increase of 400%.
Why can Bitcoin go up after being purchased by a corporation from the United States?
One of the factors that increase the price of Bitcoin is supply and demand. Because the principle of supply and demand that has no authority or regulator of prices is also the nature of the blockchain.
If a massive purchase of Bitcoin occurs, the Bitcoin price will increase. Like what the company or corporation from America is doing. They buy a lot of Bitcoin which affects the price of Bitcoin.
If we compare it, when an item is busy being bought, the price will increase. Especially when the supply or supply of Bitcoin is quite limited, which is a maximum of only 21 million BTC.
Massive demand has also coincided with the limitation of Bitcoin supply since the halving day of 2020.
So, right now what is happening is Bitcoin is being bought more and more when the supply is getting more and more limited. Naturally, the price can go up again fantastically.
Which Other Corporations Will Buy Bitcoin?
Here are 4 corporations from the United States that are said to be buying Bitcoin. Who are they?
If Elon Musk had stated that Bitcoin was a good asset to have, there was Tesla who followed his CEO’s words. Many media speculate that the company that will buy Bitcoin next is SpaceX.
SpaceX is a company owned by Elon Musk, which has a business line with space. Of course, the people in this company are very friendly with new technologies like blockchain and crypto.
Unfortunately, this information is only speculation circulating in the media. Because, so far, no one has yet mentioned SpaceX to buy Bitcoin.
2. Master Card
One of the largest financial companies in the world Mastercard says it will provide Bitcoin and altcoin transaction features. This is the same as done by Paypal.
Although, it is not certain whether Mastercard will also buy Bitcoin and manage it as an asset. However, the provision of the payment features provided will have a big impact on Bitcoin demand.
Not only to demand, but also to the crypto ecosystem that people are increasingly using. Not only in the United States, but around the world.
However, it is not certain when Mastercard will provide the Bitcoin payment feature. We’ll just wait.
Twitter is considering buying Bitcoin. The platform officials have issued a statement, as quoted by CNBC, early February 2021.
However, Twitter emphasizes that Bitcoin will be bought to pay salaries of employees and vendors. Given that this company is a multinational company that has many employees from all over the world and vendors from all over the world.
Bitcoin is also a simpler currency for cross-border payments. Compared to having to exchange foreign currency. It is noted, there have been several companies that have done this.
It’s just that, this is still a consideration for Twotter and is probably only a word in the media.
Although no one from Apple has stated that they will buy Bitcoin. However, some analysts have mentioned this gadget company will provide a payment feature with Bitcoin.
Quoting cointelegraph, an analyst at the Royal Bank of Canada Dominion Securities Paul Steves said, Apple will get a lot of benefits by using the Bitcoin and altcoin features and managing them as assets.
Because crypto assets can be a means of payment in features or applications provided by Apple.
However, no one from Apple has said whether they are really considering buying Bitcoin. At least, this company is busy talking about managing Bitcoin.
Does Bitcoin Belong Only to the Corporations and the Rich?
Currently, the price of Bitcoin has reached hundreds of millions. It is predicted that it could be worth 1 billion rupiah or more. Then, can Bitcoin only be owned by corporations? Can Bitcoin only be owned by the rich?
Wrong. You can also own Bitcoin.
Even though 1 BTC costs whatever and the maximum supply is only 21 million BTC, you can still own Bitcoin. Because 1 BTC can be divided into a decimal fraction of 0.00000000000001.
So, every 1 BTC can be owned by thousands or even millions of people. You don’t need to be afraid to run out of Bitcoin.
At Indodax, you can buy Bitcoin starting from just IDR 10,000. You can register here to become an Indodax member.
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