What Will Be the First Central Bank in the World to Dare Buying Bitcoin?It’s more a question of when than if in my opinion.
The year 2020 is the year in which everything changes for Bitcoin. The coronavirus pandemic has triggered an economic crisis that has completely changed the position of institutional players concerning Bitcoin.
Seeing Bitcoin recover even stronger from the liquidity crisis that occurred in March 2020 convinced many that Bitcoin was here to stay.
JPMorgan CEO Jamie Dimon, who had always been a staunch opponent of Bitcoin, has himself finally bowed down to Bitcoin’s resilience. In the wake of the famous macro investor Paul Tudor Jones, who switched from gold to Bitcoin in early May 2020, many institutional investors chose to buy Bitcoin.Bitcoin is seen as the best hedge against the great monetary inflation
For all these players, Bitcoin is increasingly perceived for what it is: a great store of value to protect against the great monetary inflation in which the actions of the Fed and other central banks are currently plunging us.
Big companies like PayPal have even decided to embark on the adventure by announcing that they are working to offer buying / selling Bitcoin directly from their platform.
A large American company listed on the Nasdaq then decided to move up a gear by making Bitcoin its primary treasury reserve asset for the coming years. A former staunch opponent of Bitcoin, Michael J. Saylor, CEO of MicroStrategy, announced this in August 2020.
As a result, MicroStrategy purchased 21,454 BTC in an aggregate purchase of $250 million.
MicroStrategy’s strategy sounds bold in 2020, but in a few years, Michael J. Saylor will be seen as a genius. More and more other companies will be following what will become the standard in the years to come.
At the individual investor level, we are seeing more and more people coming to buy Bitcoin. Little by little, the Bitcoin’s ado...