Will Tech companies start investing in Bitcoin?

More and more investors are getting interested in Bitcoin. Lately one of the major new has been MicroStrategy investing its cash in Bitcoin. MicroStrategy, which is US-based business intelligence, mobile software, and cloud-based services provider, has all of its cash reserves in Bitcoin to fight the inflation, however, the huge raise that BTC showed this year, has made the company millions of dollars.  Other companies like square have invested in BTC as well.

But what will happen if other tech companies will follow this path as well? In the list below, there are few companies with surplus cash. They are growth companies and don’t usually pay dividends. Their business models are so profitable that they don’t need the money to fund future growth. The result is a growing cash pile that receives no interest to compensate them against inflation.

Top Companies with pile of cash
Source: https://bytetree.com/

If these companies decide to start investing in Bitcoin, billions of new funds will be adding to the BTC market capitalization and since we all know Bitcoin is a scarce resource, the price should skyrocket as well. All of this is not far-fetched, because economists are forecasting unseen levels of inflation and every company will be trying to keep safe their money and bitcoins seem like the best store of value. Michael Saylor, Founder and CEO of MicroStrategy is urging other leaders to follow his lead as well:

Want to know how to start investing in Cryptocurrencies and Stocks? Click here and get more information about the top investing platform available.

Buy crypto instantly on Uphold