The advance of Bitcoin in the business world seems unstoppable. And it is that, after Tesla, the largest automobile company in the world, bought more than 1.5 billion dollars in BTC. More and more companies are analyzing following this path and investing in cryptocurrency. Something that has already begun to happen in Asia, as the Bitcoin Archive account comments on the Tweet of the day, a Chinese company buys Bitcoin as a store of value asset:
Bitcoin makes its way between businesses
What for a long time seemed crazy is now becoming a reality. And it is that, given the fears of an increase in inflation in the United States due to COVID-19. Today, companies around the world are looking for an asset solid enough to invest their profits, without them being consumed by inflation.
And increasingly, this asset is Bitcoin. Especially after MicroStrategy’s investment in BTC just before the start of its big bull rally translated into multi-million dollar profits for the business software company. A result desired by many companies in all countries.
This includes, of course, China. Where the listed company, Meitu, has decided to invest 17.9 million dollars in the purchase of 379 Bitcoins. A small figure that has combined with $ 22 million invested in Ethereum. But which opens the doors for the entry of BTC to the Asian market, after having made great advances among US companies, being the first Chinese company to buy Bitcoin.
«Meitu has become the first publicly traded Chinese company to buy $ 17.9 million worth of Bitcoin».
Thus, in the coming years we could begin to see the curious case of Chinese and American companies competing to acquire as much BTC as possible for their reserves. Which, at the end of the day, continues to solidify the position of cryptocurrencies in the international financial market, as reserve assets of value comparable to gold.