I would like to share a timeline of public companies investing in cryptocurrencies (not directly related to cryptocurrencies in the first place)
Sometime in August 2020 - MicroStrategy (MSTR) buys Bitcoin, CEO Michale Taylor is a big advocate of Bitcoin.
October 8 2020 - Square (SQ) Announces invest of 50 Million in Bitcoin. CFO says “We believe that bitcoin has the potential to be a more ubiquitous currency in the future”
December 20 2020 - Michael Taylor reaches Musk on Twitter about the possibility of converting “large transactions” of Tesla Inc balance sheet into bitcoin.
Sometime in January 2021 - Tesla (TSLA) buys $1.5 in bitcoin
Feb 4 & 5 2021 - MSTR hosts an event called “Bitcoin for Corporations” where they motivate companies to buy bitcoin.
Feb 8 2021 - Tesla Announces that bought BTC in January and will start accepting Bitcoin as payment
Estimates on Stock Increase (Decrease) since adoption / BTC Increase (decrease)
MSTR 430% / 325%
SQ 22% / 366%
TSLA (15)% / 45%
Bitcoin and stocks that adopted Bitcoin 6 months comparison
Were are in the beginning of major adoption of crypto and the movement we saw by those corporations was only on BTC. They are not even taking about other coins! We are moving in the right direction and price volatility does not matter. From the corporation adoption of crypto things are looking great.
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