gettyEarlier this week, bitcoin received a boost from an unexpected source —MicroStrategy MSTR , a Nasdaq NDAQ -listed business intelligence company, made it public that they have purchased 21,454 bitcoin. 1) “Every other Corporate Finance team at public companies saw the 10% move higher in Micro Strategy's stock price. Back in 2017/2018, many public companies found a way to use the word ‘Blockchain’ on earnings calls, just because the market was rewarding stocks of companies who were forward thinking. skew.comBitcoin’s network efficiency has numerous examples of large amounts of money being moved, almost instantaneously, and with minimal fees, which could be a game changer in terms of cost reduction for public companies. The future is still far from written, but if more companies begin to follow MicroStrategy’s lead, Corporate America could be the next big demand boost for bitcoin.

Source: Forbes August 14, 2020 13:41 UTC