Yesterday, Twitter and Square CEO Jack Dorsey announced that Square bought 50 million dollars’ worth of Bitcoin, equivalent to 1% of the company’s total assets. Following the announcement, Bitcoin’s price jumped 2.5% to find a new price resistance level around $11,000.
This announcement signifies that the world is one step closer to utilizing the true purpose of digital assets as a way to unite the world financially under a universally accepted financial system, which directly aligns with Square’s vision in building a more inclusive future.
“Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose… For a company that is building products based on a more inclusive future, this investment is a step on that journey” the company stated.
Sarson Funds is aligned with Square’s pursuit to create a more universal and inclusive financial future, and we are excited to see that yet another one of the world’s leading corporations has committed themselves to bolstering the infrastructure to help make the world a better place.
By Liam McDonald
Disclosures: Not investment advice. It should be assumed that Sarson Funds or its affiliated managers hold positions in all projects that are discussed. It is not possible to invest in any project directly through Sarson Funds, Inc. or its affiliated managers. Any investment product offered by managers affiliated with Sarson Funds should be assumed to be only available to Accredited Investors and subject to the individual terms and conditions of that offering including but not limited to those eligibility requirements associated with U.S. Securities Regulation D, section 506c. Talk with your financial advisor before making any investment decisions or have them contact Sarson Funds directly at [email protected]
