Trend sees publicly traded companies buying bitcoin
It’s one of crypto’s hottest trends: publicly traded companies buying bitcoin and then buying even more.
U.S. President Donald Trump’s media company just announced a plan to raise US$2.5 billion to buy bitcoin, joining a growing number of so-called “bitcoin treasury companies” as the world’s most popular cryptocurrency hits all-time highs.
The companies buy bitcoin for different reasons: Some hold it as a hedge against inflation or to signal support for the cryptocurrency industry, while some firms have made using debt and stock sales to buy bitcoin their primary business strategy.
“The world at large has no idea what’s happening and they’re in for a big shock,” Dylan LeClair, an executive at the Japan-based Metaplanet,…
