It seems that Bitcoin is achieving the dream of the entire crypto community: displacing gold as a reserve asset, and attracting more companies to invest in it to protect their assets in the future.
Mike McGlone, analyst and commodity strategist at Bloomberg, says that Bitcoin (BTC) is gaining ground on gold as a reserve asset, and that the cryptocurrency is displacing the precious metal, which no longer seems to be as attractive for holding value in the future. On his Twitter account, McGlone expressed that the new “digital gold”, that is, Bitcoin, is growing at an accelerated pace as the new asset that is replacing the precious metal as a store of value in investors’ wallets and portfolios.
Earlier this month, Bitcoin investor and MicroStrategy CEO, Michael saylor, he pointed that Bitcoin had outperformed gold 100 times over the past 10 years, and that the next generation would witness the demonetization of precious metals. For the business intelligence expert, Bitcoin is humanity’s new form of money, which has unique properties written into its very DNA.
On the other hand, although some in the financial industry still consider that Bitcoin could burst as a “bubble”, the truth is that more and more companies and businesses from all sectors, not just the technological one, are placing their trust in Bitcoin as a store of value for the future. Recently, the crypto ecosystem saw the arrival of two new institutional and corporate investors, who have deposited 80 million dollars in this cryptocurrency.
Several experts point out that the initiative of these companies to invest in BTC is in response to the approval of the new stimulus package by the United States, interpreted as “1,9 trillion reasons to invest in BTC”.
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Aker ASA, 1.170 bitcoins for its balance
The Norwegian-based trading company, Akker ASA, announced the creation of a subsidiary, called Seetee AS, whose objective is nothing less than to invest in Bitcoin, and help society to keep the precious cryptocurrency on their balance sheets. Aker ASA shared a release with the Oslo Stock Exchange, in which it states that the new company will be dedicated to investing in projects and companies related to the entire Bitcoin ecosystem, and that in addition, it will keep all its investable liquid assets in this cryptocurrency.
In relation to this, the company has an initial capital of 500 million Norwegian crowns, equivalent to approximately $ 58 billion in Bitcoin, which were invested in Bitcoin to purchase 1.170 units of the cryptocurrency.
Seetee AS, in addition to managing and maintaining custody over the acquired cryptocurrencies, will also focus on investing in innovation projects and companies in Bitcoin, which promote the development of the crypto ecosystem and technology. blockchain. This company will also be an important part of the crypto community, establishing partnerships with the main players in this powerful industry. Likewise, Seetee AS will be empowered to seek and enhance development and value opportunities that focus on industrial software, fintech, green energy, and more.
Meitu bets on Bitcoin and Ethereum
Meitu Inc., is another of the companies that joins the long list of companies and corporations that are transforming part of their reserves into Bitcoin, and also into Ethereum (ETH).
In a release Recently, the company reported that it allocated almost 40 million dollars to investing in these two cryptocurrencies. The resources, distributed in about $17,9 million for Bitcoin y $22 million for Ethereum, added 379,1 BTC and 15.000 ETH to Meitu Inc.'s balance sheet.
Meitu Inc. is a Chinese-based photo editing app developer listed on the Hong Kong Stock Exchange that believes cryptocurrencies and digital assets provide a unique diversification opportunity for its treasury. According to its board of directors, Meitu Inc. is preparing to embrace technological evolution, and may soon venture into the world of blockchain and Ethereum-based apps to launch innovative new products and services for customers and users.
The number of companies in Bitcoin is growing
After MicroStrategy announced its first investment in Bitcoin last year, several companies and businesses have responded to this initiative and began to follow in its footsteps, such as Square, Tesla, Stone Ridge, MassMutual, among others.
Aker and Meitu are the latest companies to announce investments in Bitcoin. Shares of these companies rose by nearly 5% after announcing their investments in cryptocurrencies.
At the time of this edition, Bitcoin has a value of $51.800 USD, with a market capitalization almost on the verge of breaking the $1 trillion mark again. Meanwhile, Goldman Sachs CME Group has confirmed plans to reactivate a trading desk for Bitcoin and cryptocurrencies. With nearly 40% of its clients having exposure and investing in cryptoassets, the world’s largest investment banking and securities group will give its clients access to CME Group’s Bitcoin futures on its upcoming cryptocurrency and digital asset platform to meet the growing demand for these products.
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