Morgan Creek Digital Assets co-founder and partner Anthony Pompliano believes that Jack Dorsey-led Twitter will make a grand entrance into Bitcoin, with a multi-million dollar investment very soon.
Just Twitter Inc., announced an offering of convertible notes to raise 1,25 one billion dollars, the entire crypto community began to speculate that the company would make a triumphant entry into Bitcoin (BTC), and that would allocate part of these economic resources to investment in this cryptocurrency.
Anthony Pompliano, renowned Bitcoin speaker and co-founder of the firm Morgan Creek Digital Assets, believes that Twitter is replicating the strategies of the largest institutional investor in Bitcoin, microstrategy, to raise funds through convertible notes and debt and then invest the capital in the cryptocurrency.
Although Twitter's convertible note offering announcement does not mention Bitcoin investment anywhere, many have faith that this will happen; as its CEO, Jack Dorsey, has always expressed great conviction, support and confidence about the entire Bitcoin ecosystem. Pompliano said that time will tell if Twitter will actually allocate resources to investing in Bitcoin, but he assured that there are “There are few people who understand the power of bitcoin like Jack does”, suggesting that investment in cryptocurrency by this company headed by Dorsey is almost a fact.
It may interest you: Will Twitter be the next to invest and pay salaries to its employees in Bitcoin?
An announced interest
Twitter Inc. investing in Bitcoin would be big news for the entire crypto community, but it wouldn't be a surprise, as Twitter's CFO, Ned Segal, recently announced in an interview on CNBC that the company was considering becoming an institutional investor in Bitcoin, and was also considering paying employees' salaries in the cryptocurrency if they so choose.
At the time, Segal said Twitter Inc. had been closely watching other companies and businesses' financial and investment decisions, including Bitcoin holdings. That's why its executives were discussing and evaluating the possibility of adding the cryptocurrency to its accounting books, or using it to pay for services to suppliers and employees.
Twitter and Square under Dorsey's leadership
On the other hand, Jack Dorsey is also CEO of Square, one of the largest financial services and payment management companies in fiat and cryptocurrencies in the United States, and also a major investor in Bitcoin with a total of 8.027 BTC on its balance sheet.
Dorsey is also recognized by the crypto community as one of the Bitcoiners who expresses the most affection for Bitcoin, supporting dozens of initiatives in favor of the development and progress of this cryptocurrency. In its latest investment, Dorsey's company expressed that Bitcoin “It is an instrument of economic empowerment” which provides a unique and inclusive way for all people who want to participate to do so, within a global monetary system that allows them to secure their own financial future.
A wild ride
Since the middle of last year when Bitcoin sparked a huge institutional and corporate interest, companies have been on a wild ride full of extraordinary rises and epic corrections that have kept everyone tied to market expectations.
The huge institutional appetite has been the main driver of the Bitcoin price in the markets, leading the cryptocurrency to grow to levels never seen before, such as the last high it marked in mid-February, when the value of Bitcoin broke the level of $58.000 USD per unit for the first time. This has been the most important milestone for the cryptocurrency so far; and it is special, considering that Bitcoin started the year with a value of approximately $29.000 USD, and that only 2 months have passed since then.
The Bitcoin craze from companies like MicroStrategy, Square, Stone Ridge, and even new entrants who have bet big on Bitcoin, like Tesla, is prompting more companies to rush in if they want to jump on the Bitcoin bandwagon and become part of this ecosystem. This is why Pompliano believes that Twitter intends to invest in Bitcoin very soon, with part of the funds it raises from its convertible note offering.
Like Pompliano, other members of the crypto community, such as BTC_Archive, Crypto_Daily and many others believe that Twitter is raising funds to become the next big company to enter the world of Bitcoin investment.
Continue reading: Square invests 170 million in Bitcoin and adds another 3.318 BTC to its balance sheets
