Digital gold reserves 10. 11. 2020. There are more and more indications that bitcoin is marching steadfast toward becoming the digital gold. One such indication is a trend among public companies that developed in the recent months: they buy bitcoin. For the long term. And they do it because they do not trust cash. On the other hand, they see bitcoin as a good hedge against inflation, so they invest a part of their cash reserves into it. We already knew about smaller companies that keep bitcoin on their balance sheets. But this time, serious corporations with billion-dollar market caps also joined the ride. Kicking it off was the Nasdaq-listed company MicroStrategy. It spent a total of $425 million in August and September and is now the proud owner of 38,250 bitcoins. That is huge, not least because it means that one-third of its market capitalization is in the largest cryptocurrency. Read more about Digital gold reserves
