One of the Most Seminal and Legitimizing Events in Bitcoin History Flying Under the Radar, Says Galaxy Digital

One of the Most Seminal and Legitimizing Events in Bitcoin History Flying Under the Radar, Says Galaxy Digital


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Crypto investment firm Galaxy Digital says Bitcoin has pulled off one of the most important events in its nearly 12-year history.

In a new market report from Galaxy Fund Management, portfolio manager Paul Cappelli points to the fact that software giant and intelligence firm MicroStrategy just purchased $250 million in Bitcoin as a monumental event that’s flying under the radar.

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“…unbeknownst to many casual observers, August saw one of the most seminal and legitimizing events for the space to date. MicroStrategy Inc., a business intelligence software firm publicly traded on the NASDAQ (ticker: MSTR), announced a balance sheet investment of $250 million into bitcoin. This represents nearly 20% of the firm’s overall cash position, with CEO Michael Saylor citing that cash returns were fading amidst a weakening greenback.”

Galaxy Digital says the corporate Bitcoin buy could be a sign of what’s to come as a growing number of money managers question the future

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