This 1 Catalyst Could Send Bitcoin Skyrocketing Higher, According to Silicon Valley Billionaire Tim Draper
These days, it seems like everybody is trying to buy Bitcoin (CRYPTO: BTC) -- individuals, Wall Street banks, institutional investors, and even the U.S. government. But until recently, corporations were not getting into the act. Only a relatively small number of publicly traded companies currently hold Bitcoin on their balance sheets.But that could be changing. According to billionaire Silicon Valley venture capitalist Tim Draper, corporations need to start buying Bitcoin. If America's publicly traded corporations decide to go on a Bitcoin buying spree, that could send the world's most popular cryptocurrency soaring to new all-time highs.Corporations are starting to follow the playbook created by MicroStrategy (NASDAQ: MSTR), the company now doing business as Strategy. That playbook primarily consists of one play: buying Bitcoin. Strategy now owns a staggering amount of Bitcoin -- 568,840 coins and counting. It seems that nearly every week, Strategy reports a major buy of more Bitcoin. Its current Bitcoin stockpile is valued at nearly $60 billion.Continue reading
These days, it seems like everybody is trying to buy Bitcoin (CRYPTO: BTC) -- individuals, Wall Street banks, institutional investors, and even the U.S. government. But until recently, corporations were not getting into the act. Only a relatively small number of publicly traded companies currently hold Bitcoin on their balance sheets.
But that could be changing. According to billionaire Silicon Valley venture capitalist Tim Draper, corporations need to start buying Bitcoin. If America's publicly traded corporations decide to go on a Bitcoin buying spree, that could send the world's most popular cryptocurrency soaring to new all-time highs.
Corporations are starting to follow the playbook created by MicroStrategy (NASDAQ: MSTR), the company now doing business as Strategy. That playbook primarily consists of one play: buying Bitcoin. Strategy now owns a staggering amount of Bitcoin -- 568,840 coins and counting. It seems that nearly every week, Strategy reports a major buy of more Bitcoin. Its current Bitcoin stockpile is valued at nearly $60 billion.
