Bitcoin Has Turned Bullish Overnight After a $50 Million Investment from Square
The price of Bitcoin rallied 2.47% and closed at 10,934 yesterday. This rally was triggered by the announcement of a $50 million investment from Square, an $81 billion payments conglomerate. According to the announcement, they had purchased $50 million worth of Bitcoin as 1% of their assets. It symbolizes the rising institutional demand institutions have for Bitcoin as an investment vehicle and a store of value. Therefore, we can tell that the bullish sentiment is back with Bitcoin in the long term.
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