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Jack Dossie Square, CEO. CNBC provided
Square, an American online payments company, announced late last year that it had bought $ 170 million worth of Bitcoin. Square is a company with Twitter founder Jack Doshi as CEO.
On the 23rd (local time), CNBC reported that Square made the announcement in its fourth-quarter earnings report filed with the Securities and Exchange Commission (SEC) on the 23rd.
Square explained that it started investing in bitcoins using cash since October last year and that it bought 4,709 bitcoins for the first investment, followed by an additional 3,318. At the end of last year, the share of cryptocurrencies among the assets of the company is about 5%.
The price of Bitcoin has recently plummeted, but compared to the purchase price, Square is estimated to be getting a significant margin of valuation.
“We continue to invest in bitcoin,” said the chief executive of the city, “we will regularly assess the value of bitcoin.”
Earlier, Tesla CEO Elon Musk also announced that he had purchased $ 1.5 billion worth of bitcoins through the company. The point of purchase is last month.
However, Daniel Ives, an analyst at the Wedbush brokerage house, emphasized in an interview with CNBC that “due to the high volatility of bitcoin, investing in bitcoins can act as a risk factor for the company.”
The price of bitcoin has plummeted. Coindesk capture
Meanwhile, the recent drop in bitcoin prices, Goldman Sachs said, is due to ‘debt reversal’ by those who want to join the cryptocurrency rally this year.
Goldman Sachs said: “Recently, as the price of bitcoin has risen, more people have created huge loans and want to invest. Because of this, the interest on loans has skyrocketed to 144% annually.” He said, “When you and I started selling bitcoins, a sell-off was triggered.”
At 7:15 pm on the day (9:15 am on the 24th Korean time), the price of bitcoin was trading at $ 47,260 each on Coinbase, the largest cryptocurrency exchange in the United States. Compared to 24 hours ago, it is a drop of 11.62%.
New York = Correspondent Cho Jae-gil [email protected]
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