Square added $170M in bitcoin to its reserves last quarter, while MicroStrategy announced a fresh $1B bitcoin buy today.

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Today on the Brief:

  • Fed Chair Jerome Powell comments on markets and digital currency
  • Cathie Wood’s ARK faces toughest stretch since last September
  • India’s latest anti-crypto sentiment

Our main discussion: More news on corporate bitcoin buying. NLW discusses:

  • Square’s Q4 and overall 2020 bitcoin performance in terms of revenue and profit
  • Square’s latest bitcoin purchase of ~3,300 BTC for $170 million
  • MicroStrategy’s latest >$1B bitcoin purchase, bringing the total to more than 90,000 BTC
  • Why these announcements are losing their power to move markets

See also: MicroStrategy, Square Bought Bitcoin High, Then the Price Fell

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