Square Buys Another $170M in Bitcoin.

[Malam90]

Ahead of its fourth-quarter earnings call Tuesday the payments firm announced it had purchased an additional 3,318 BTC as a reserve asset.
Payments giant Square said Tuesday it had purchased an additional $170 million of bitcoin (BTC), adding to the stash it purchased in October.

Someone should have looked at the price of BTC before that went to press.

According to the payment processor’s press release, the company added 3,318 BTC to its treasury for $170 million. Doing the math, that results in a per bitcoin purchase price of $51,235.70. Source Link

[0t3p0t]

These institutional investors are now preparing for something that might happen in the future and they want their assets secured. Good buy since the market has dump.

[Cutter Cute]

I saw a lot of information about that.
Investors have tried to take advantage of the Bitcoin price correction, if this downward trend continues, they will buy more Bitcoin, and because of the scarcity of Bitcoin, the price will slowly rise.