What got these companies suddenly interested in Bitcoin?

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Bitcoin has been noting six-strong consecutive days of growth as the price surged by 11.23%, from $10,547 to $11,731. A contributing factor for the sudden increase in the value of the asset was Square’s announcement of it buying approximately 4,709 Bitcoin at an aggregate price of $50 million. Square Inc put 1% of its total assets in BTC, following Microstrategy Inc. which bought a total of 38,250 BTC earlier in September at an aggregate price of $425 million.While these are two prominent names, nine publicly traded companies have bet on Bitcoin. According to data from Bitcoin Treasuries, Galaxy Digital, Hut 8 Mining Corp, Voyager Digital, Riot Blockchain, DigitalX, Cypherpunk Holdings, and Agro Blockchain were some other names, who were also directly in the business associated with digital assets.Although Microstrategy has been the company with the biggest allocation in terms of Bitcoin, Grayscale was leading in terms of actual Bitcoin holdings.Although the large chunks of BTC holdings stand out, most of them got off zero. From holding zero BTC to diving into the deep end has turned many heads. Jack Dorsey, Square’s co-founder has remained vocal about his views on Bitcoin and its use, but many private companies like Microstrategy did start from scratch.So, …

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