JAKARTA - Jack Dorsey also bought crypto currency through his payment company called Square. No half-hearted, the Twitter boss bought as much as 170 million US dollars (around Rp2, 38 trillion) bitcoin.
Square bought 3,318 pieces of bitcoin. Meanwhile, in October last year, the company also bought 4,709 bitcoins. The payment company owned by Jack Dorsey informed that 5 percent of its assets consisted of bitcoins.
"This investment is part of Square's ongoing commitment to bitcoin, and the company plans to assess its aggregate investment in bitcoin against other investments on a sustainable basis," Square said when announcing its earnings as quoted by CNBC International.
The cryptocurrency bitcoin became the topic of conversation of many people when Elon Musk's company invested US $ 1.5 in the bitcoin digital currency. The action was aimed at "more flexibility to further diversify and maximize our cash returns."
Although bitcoin is now the prima donna among other cryptocurrencies and has a high rate of increase, this digital money has a fairly risky level of volatility. Based on the Wedbush Daniel Ives report, the current price of Tesla's shares is related to the value of bitcoin.
One of the reasons for the soaring value of bitcoin is the entry of big players. On the other hand, a number of companies have also decided to accept purchases with bitcoin. This rocked the central bank-controlled financial system.
Previously, Tesla announced that they were accepting purchases in cryptocurrency. Then PayPal also allows bitcoin transactions. After that, Mastercard and Apple also implemented the same policy.
The decision of a number of technology company giants has made bitcoin's value and popularity skyrocket. Recently, it was also reported that the US central bank, The Fed, was studying the possibility of using the cryptocurrency as an alternative means of payment.
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