More Corporates are Adding Crypto Assets to Their Treasuries
Nowadays, more and more business and institutional investors are entering the crypto marketplace. From hiring crypto professionals to investing in crypto startups, from establishing their own cryptocurrencies to funding the mining activities the corporate world has well and truly entered the crypto marketplace.
Corporate businesses are stockpiling their crypto assets as part of their corporate strategy and to increase their corporate treasuries. Previously some of the biggest names such as JP Chase Morgan, Goldman and Sachs, and Amazon announced to design their own crypto currency in future. Facebook and Twitter talked about their plans of supporting NFT tokens. Now, most recently Walmart another retail tycoon has also initiated a plan to install 8,000 bitcoin ATMs.
It seems that the rampant popularity of Crypto finally triggered the corporate world. The beginning of corporate crypto investment started back in Aug. 11, 2020, when MicroStrategy, a business consultancy firm, publicly traded company purchased Bitcoin. As of this writing, the company owns 109,000 bitcoins, the company’s balance sheet indicates that 75% of its digital reserves consist of Bitcoin. Square and Tesla are some other crypto companies which have also purchased Bitcoins. Moreover, El Salvador is another country which has adopted bitcoin as the payment method.
As far as the corporate world investing in Bitcoin is not just limited to fortune 500 companies. Many other companies are also investing in the crypto currencies. Geely Auto Group has also invested in the crypto assets. Apart from that, some NBA and Football teams have also signed the sponsorships with the crypto related companies.
In recent times more and more institutional investors and CEOs are looking forward to investing in the crypto related operations. A recent survey concluded by the Fidelity Digital Assets concluded that 52% of the corporate companies in the U.S, Europe and Asia currently investing in the crypto and also believes that they would be the part of future crypto.
Another survey conducted by the European Commission concluded that current corporate investment in the digital assets trading has surpassed the $30 billion mark. As far as the private investors are concerned 42% of people have said that they already invest in digital assets. Crypto experts and companies on the other hand welcomed this corporate inclusion in the crypto world. There are greater number of crypto experts who have praised this corporate and crypto relation by saying that it will help crypto industry to deal with its legitimacy and regulation problems.
The inclusion of corporate world has also eased of the pressure from the shoulders of the crypto organizations as U.S regulatory authorities have eased of the pressure from the shoulders of country’s crypto companies.
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Text source: Coinfrog
