The Market Reacts to Square’s $50M Bitcoin Buy

Reactions from Bitcoin Twitter and beyond as Square puts 1% of its treasury assets into bitcoin.

CoinDesk Insights
Oct 8, 2020 at 4:16 p.m. UTC
Updated Sep 14, 2021 at 10:06 a.m. UTC

Reactions from Bitcoin Twitter and beyond as Square puts 1% of its treasury assets into bitcoin.

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This episode is sponsored by Crypto.comNexo.io and Elliptic.

A special breaking edition of The Breakdown follows the market’s reaction to Square’s surprise $50 million bitcoin investment. 

NLW breaks down the foundations for the investment, including:

  • 2020’s alignment between the bitcoin narrative and structural economic realities
  • An increase in bitcoin’s perceived resilience
  • The precedent set by MicroStrategy

He also discusses the market’s reaction, from the (potential) connection to Coinbase’s “apolitical” stance from last week to the notion of Square intentionally setting a framework others can follow. 

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