The companies investing in bitcoin - What real-time indicators say #22

Th e coronavirus crisis has strengthened new technology companies, as illustrated by the NASDAQ, which has gained 27% since 1 January. The share prices of digital payment companies such as Square and PayPal have soared this year. Some of these companies, such as Square and MicroStrategy, have decided to invest in Bitcoin to hedge against dollar changes . Despite falling sharply by more than 40% on 13 March due to the coronavirus crisis, Bitcoin has gained more than 70% since 1 January. PayPal’s arrival in the cryptocurrency market has added further impetus to Bitcoin’s rise, the digital currency surging over the past month despite the public health crisis since early this year. Its rise and the validation it has received from a few NASDAQ companies are making Bitcoin an increasingly strong asset.