• Contact Us
  • Privacy Policy
  • Live Exchange
  • LIVE ICO
  • Shop
Thursday, January 28, 2021
CryptoNewsking.com
Advertisement
  • Home
  • LIVE UPDATES
    • Live Coin Market Cap
    • Live Exchange
    • LIVE ICO
  • News
    • Crypto News
    • Bitcoin News
    • Ethereum News
    • Blockchain
    • Altcoin News
    • Exchanges News
    • Wallet News
    • Regulation
    • ICO
  • Guide Reviews
    • How to Buy Crypto
    • Bitcoin 101
    • Ethereum 101
    • Blockchain 101
    • Mining 101
    • Coins
    • Exchanges
    • Wallets
  • Market
  • Price Analysis
  • Business
  • Videos
  • Shop
No Result
View All Result
  • Home
  • LIVE UPDATES
    • Live Coin Market Cap
    • Live Exchange
    • LIVE ICO
  • News
    • Crypto News
    • Bitcoin News
    • Ethereum News
    • Blockchain
    • Altcoin News
    • Exchanges News
    • Wallet News
    • Regulation
    • ICO
  • Guide Reviews
    • How to Buy Crypto
    • Bitcoin 101
    • Ethereum 101
    • Blockchain 101
    • Mining 101
    • Coins
    • Exchanges
    • Wallets
  • Market
  • Price Analysis
  • Business
  • Videos
  • Shop
No Result
View All Result
CryptoNewsking.com
No Result
View All Result
Home Bitcoin News

Stone Ridge’s 10k Bitcoin Bet Shows Changing Sentiment of Corporate America

10/14/2020
in Bitcoin News
0
Stone Ridge’s 10k Bitcoin Bet Shows Changing Sentiment of Corporate America
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

New York-based asset managers Stone Ridge confirms 10k Bitcoin ($115 million) holding in its treasury.

Stone Ridge purchased the Bitcoin via subsidiary firm New York Digital Investment Group (NYDIG), one of the few companies with a BitLicense issued by the New York State Department of Financial Services (NYSDFS).

Related articles

Chainlink (LINK) Eyes Another Record Peak as Bitcoin Gets Choppier

Chainlink (LINK) Eyes Another Record Peak as Bitcoin Gets Choppier

01/28/2021
Chainlink (LINK) Holding Key Support, Bulls Aim Fresh Test of $25

Chainlink (LINK) Holding Key Support, Bulls Aim Fresh Test of $25

01/27/2021

Stone Ridge becomes the latest high profile corporation to announce a move into Bitcoin.

MicroStrategy broke the internet last month when it announced a change in its treasury policy to include Bitcoin. To date, it has converted $425 million of cash into BTC.

Not to be outdone, Jack Dorsey’s Square soon followed. They announced spending $50 million in making the switch.

The U.S Economy is on the Ropes

It doesn’t take a genius to know that the macroeconomic picture looks bleak. In response to the downturn, the Federal Reserve has come out, all guns blazing, by adding a total of $3 trillion to the money supply.

At the start of 2020, the Fed’s total assets came to a little over $4.1 trillion. Since then, the Fed’s reckless spending has ballooned its balance sheet to $7 trillion, a 71% increase in ten months.

Source: federalreserve.gov

The knock-on effects of an out of control balance sheet have yet to be fully felt. But critical metrics, including debt-to-GDP, give insight into what is coming.

Debt-to-GDP measures a country’s public debt against its gross domestic product (monetary value of what the country generates in finished goods and services.)

A country that is able to service the interest on its debt is considered stable. However, a high debt-to-GDP ratio (anything over 100) indicates trouble paying off external debt.

The latest data from the IMF shows the U.S. has a debt-to-GDP of 131.07. Of the developed nations, only Portugal (134.95), Italy (155.54), Greece (200.75), and Japan (251.91) are greater.

debt-to-gdp ratio map

Source: imf.org

As such, Bitcoin is starting to gain wider public attention on the grounds of it being a deflationary and scarce asset.

Bitcoin Hailed as the Answer to Dire Economic Woes

A ballooning Fed balance sheet and high debt-to-GDP ratio are facts that have not escaped the attention of corporate America.

On that, MicroStrategy CEO Michael Saylor spoke candidly about his inflation concerns. But more than that, during these uncertain times, Saylor simply sees Bitcoin as better than cash.

“MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.”

What’s more, with no solution in sight, Saylor believes the floodgates have opened, and more corporations will eventually make the move into Bitcoin.

As the trillions of dollars on the balance sheets of banks, asset managers, insurance firms, endowments, & family offices begin their migration to the #Bitcoin universe, they will need firms like NYDIG to guide them. $1 billion down, more to go.https://t.co/YObDOGTX7Y

— Michael Saylor (@michael_saylor) October 13, 2020

MicroStrategy was the first listed firm to buy BTC with corporate funds. Although some shareholders voiced their concerns with that, the market did not. MicroStrategy shares are up 20% since the Bitcoin bombshell was dropped last month.

As the macro picture continues to deteriorate, it’s hard to believe that boardrooms of cash-rich firms are not discussing Bitcoin right now.

Source: BTCUSDT on TradingView.com


Credit: Source link

Share76Tweet47

Related Posts

Chainlink (LINK) Eyes Another Record Peak as Bitcoin Gets Choppier

Chainlink (LINK) Eyes Another Record Peak as Bitcoin Gets Choppier

01/28/2021
0

Chainlink (LINK) was soaring high in the early European trading session Thursday as traders continued to seek hedge in the...

Chainlink (LINK) Holding Key Support, Bulls Aim Fresh Test of $25

Chainlink (LINK) Holding Key Support, Bulls Aim Fresh Test of $25

01/27/2021
0

Chainlink (LINK) dipped below $22.00, but it stayed above $20.00, whereas bitcoin and Ethereum struggled. The price is now rising...

Why Ethereum Close Above $1,300 Could Spark A Fresh Surge

Why Ethereum Close Above $1,300 Could Spark A Fresh Surge

01/27/2021
0

Ethereum is holding the $1,240 and $1,220 support levels against the US Dollar. ETH price seems to be eyeing a...

Bitcoin Bulls Protecting $30K, Why BTC Could Correct above $32K

Bitcoin Bulls Protecting $30K, Why BTC Could Correct above $32K

01/27/2021
0

Bitcoin price extended its decline below $31,000 and $30,000 against the US Dollar. BTC is correcting higher and it seems...

Here’s The Line Separating Bitcoin Dominance From Altcoin Season

Here’s The Line Separating Bitcoin Dominance From Altcoin Season

01/27/2021
0

For months, Bitcoin stole the show when it came to crypto, sucking the capital out of the altcoin market. Shortly...

Load More
  • Trending
  • Comments
  • Latest
Richard Wolff on Bitcoin & Cryptocurrency

Richard Wolff on Bitcoin & Cryptocurrency

03/13/2020
A Dangerous Technical Pattern In Bitcoin Is Back, And It Is Breaking Down

A Dangerous Technical Pattern In Bitcoin Is Back, And It Is Breaking Down

01/27/2021
Surging Demand and Seized Supply Spark Rapid Growth in Tether Gold

Surging Demand and Seized Supply Spark Rapid Growth in Tether Gold

04/02/2020
Multiple data points suggest Bitcoin’s 2017-style bull run has begun

Multiple data points suggest Bitcoin’s 2017-style bull run has begun

10/14/2020
Chainlink (LINK) Eyes Another Record Peak as Bitcoin Gets Choppier

Chainlink (LINK) Eyes Another Record Peak as Bitcoin Gets Choppier

01/28/2021
Bitcoin price dips below $30K but here’s why pro traders are still bullish

Bitcoin price dips below $30K but here’s why pro traders are still bullish

01/28/2021
Dogecoin to 1 dollar? Reddit turns to DOGE after GameStop surges 1,600% in 2 weeks

Dogecoin to 1 dollar? Reddit turns to DOGE after GameStop surges 1,600% in 2 weeks

01/28/2021
Blockchain learning made easy via Ivan on Tech Academy

Blockchain learning made easy via Ivan on Tech Academy

01/28/2021
CryptoNewsking.com

CryptoNewsKing.com is a curated world cryptocurrency news online portal which aims to provide the latest crypto and blockchain related news with real time updates from all around the world.

Donate

Do you like what we offer? Your donation can help us continue to improve the services we offer. Please send your donations to the addresses below. Thank you for your support and may the crypto force be with you.

BTC 

35RWoVxFbnmySWFHtYNV28rU4Hyf5TrTXD

ETH

0x1B35F874152c7d597029007f98f1F2361179034B

LTC

MJ3Cv9NXPt8ZM9x6mDiHGUFpm5yhiNntwT

Subscribe to get more!

  • Contact Us
  • Privacy Policy
  • Live Exchange
  • LIVE ICO
  • Shop

© 2019 CryptoNewsKing.com - All rights reserved

No Result
View All Result
  • Home
  • LIVE UPDATES
    • Live Coin Market Cap
    • Live Exchange
    • LIVE ICO
  • News
    • Crypto News
    • Bitcoin News
    • Ethereum News
    • Blockchain
    • Altcoin News
    • Exchanges News
    • Wallet News
    • Regulation
    • ICO
  • Guide Reviews
    • How to Buy Crypto
    • Bitcoin 101
    • Ethereum 101
    • Blockchain 101
    • Mining 101
    • Coins
    • Exchanges
    • Wallets
  • Market
  • Price Analysis
  • Business
  • Videos
  • Shop

© 2019 CryptoNewsKing.com - All rights reserved