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Another "Institutional investment" in Bitcoin

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Written by   83
1 year ago

Following MicroStrategy and Twitter's Payment platform square another institution joins the race to buy bitcoin as its reserve. The company invested now in bitcoin is Financial Tv company REAL VISION.

Disclaimer: I am not your financial adviser and all information available below are for purely educational purposes. Please verify all of the Information before using it and don't make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

Real vision joins the growing list of companies, that includes Business Intelligence firm MicroStrategy and payments company Square that are gearing upto buy bitcoin as its treasury. According to BitcoinTreasuries, these firms in total hold 243,000 Bitcoin, worth a total of $4.5 billion.

Real Vision CEO Raoul Pal in an interview with decrypt conveyed that “We think it’s a good way to hold excess cash. It’s not like I haven’t done the work on it, I’ve been involved in this space since 2012,”

One thing to note is that unlike MicroStrategy and square who got bitcoin through Grayscale Real vision invested in crypto holdings using crypto lending service BlockFi. Which also tells us the fact that how safe blockfi can be.  It also lends out its Bitcoin using the service, which currently offers 6% APY.

Raoul Pal further explained that "It’s only 10%. What’s the worst that could happen? It goes down 50% and we lose 5% of our treasury. Well we’re a subscription-based business; we generate cash, so should be fine. But if it goes up 10X, it makes a decent difference,”

Pal himself also invested a lot in bitcoin and Ethereum as u can see from hits recent tweet.

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Written by   83
1 year ago
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