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.
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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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