Bitcoin Passes $46,000 As More CFOs Put Cash Into Crytpos (Inflation Coming With $1.9 Trillion In Stimulus??)

by confoundedinterest17

MicroStrategy Inc.’s Michael Saylor, among the first to put cash into the cryptocurrency, said in September that the Federal Reserve’s relaxing of its inflation policy helped convince him to invest the enterprise-software maker’s reserves.

MicroStrategy holds approximately 71,079 Bitcoins, according to a February filing. The holding are valued at about $3.2 billion based on Monday’s price. Saylor even issued $650 million in convertible bonds to help finance the purchases.

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Saylor held a webinar last week on how corporate treasurers should move some cash into the digital coin, which he claims drew over 1,400 firms on the session in legal considerations for integrating Bitcoin into a company’s corporate strategy.

But Bitcoin’s famed volatility — it plunged 25% in two days last month — has made it difficult for usually risk-averse CFOs to make it a regular part of corporate treasuries.

Bitcoin’s daily change is now similar to other cryptos like Dash.

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Bitcoin is notoriously volatile which should give CFOs cause to engage in risk management.

Inflation worries? Let’s see if the Biden/Democrat stimulus package of $1.9 TRILLION (maybe more) generates price increases. That’s a lot of stimulus to spray on the economy!

Food prices are growing at around 4% which is higher than core inflation. And then there is housing.

 

 

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