Cryptocurrencies have been on a roll as focus in the investment community shifts to alternative investments, amid the uncertainty that has clobbered mainstream investments. Bitcoin has been one of the best performing digital currencies, attributed to institutional investors betting on the flagship cryptocurrency long-term prospects. MicroStrategy is one of the firms that have seen its investment in Bitcoin pay immensely.
MicroStrategy Bitcoi9n Payout
The U.S-based Business intelligence firm bought $250 million worth of bitcoin in August to protect its capital against a weak dollar. The company followed the investment with an additional $175 million worth of Bitcoin investment in September.
With Bitcoin price pulling off immensely to one-year highs of above $13,000 in recent months, MicroStrategy has seen its investment accrue over $100 million in profits. The firm bought 38,250 bitcoin treasuries in August, an investment that has paid off as Bitcoin price continues to edge high.
The investment looks set to pay off even more as Bitcoin is showing signs of edging higher amid a spike in risk aversion in the market. Investors are increasingly turning to the cryptocurrency as a safe-haven as Gold, and the U.S Dollar remain under pressure.
The fact that MicroStrategy made just $78 million from its business over the past three and half years should be a wake-up call those cryptocurrency investments is the way to go. Over $100 million in profits in fewer than two months is an outperformance by any standards.
A $100 million profit in less than two months affirms why institutional investors are increasingly flocking to the nascent sector. Likewise, firms are increasingly unveiling products designed to provide investors with a broader exposure to the sector.
FTX Bitcoin Pairs for Stocks
Crypto derivatives exchange FTX has unveiled a new way to gain exposure to the most popular stocks as well as cryptocurrency the new service will allow users in the exchange to trade over 12 equity and cryptocurrency pairs via fractional stock offerings.
In this case, FTX users will be able to trade high demand stocks such as Tesla, Apple, and Amazon represented by tokens against Bitcoins and stablecoin. The tokens will represent a fraction of one share, allowing traders to trade half of a share at a time. FTX has teamed up with capital market solutions provider Digital Asses and CM Equity for the new offering.
BOTS Bitcoin Kiosks
Separately, BOTS Inc. is now the owner of U.S Patent 9,135,787 that covers the Bitcoin Kiosk/ATM Device and System Integrating Enrollment Protocol. The patent covers the purchase and sale of cryptocurrencies using a Bitcoin ATM. It involves the purchase of Bitcoin among other cryptocurrencies using cash debit or credit card on a kiosk.
Unlike other systems, Bitcoin ATMs will not require people to have bank accounts. In this case, people will be able to buy bitcoin and other cryptocurrencies directly using cash, credit, or debit cards. The new system should make it easy for people to own cryptocurrencies, conversely expected to fuel mainstream adoption.
BOTS chief Executive Office, Paul Rosenberg, maintains they have on their hands an important intellectual property that provides a unique and leveraged position.