Bitcoin Just Got a Big New Buyer. Should You Follow Its Lead

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Bitcoin Just Got a Big New Buyer. Should You Follow Its Lead? The price of Bitcoin (CRYPTO: BTC) is primarily determined by the law of supply and demand. Since there's a fixed supply of the cryptocurrency, growing demand will lead to a higher price. And demand could be increasing due to a big new buyer. Jack Dorsey, the CEO of fintech Block (NYSE: SQ), devoted his entire first-quarter letter to shareholders to talk about Bitcoin. Among his comments, he noted Block will commit to using 10% of its gross profits from its various Bitcoin-related products to buy Bitcoin as an investment every month. Dorsey encouraged other business owners to invest heavily in Bitcoin by "open sourcing" Block's investment plan. He calls it the Bitcoin Blueprint for Corporate Balance Sheets. The plan isn't very complicated, and individuals can easily replicate it.

Bitcoin Just Got a Big New Buyer. Should You Follow Its Lead?
The price of Bitcoin (CRYPTO: BTC) is primarily determined by the law of supply and demand. Since there's a fixed supply of the cryptocurrency, growing demand will lead to a higher price. And demand could be increasing due to a big new buyer.
Jack Dorsey, the CEO of fintech Block (NYSE: SQ), devoted his entire first-quarter letter to shareholders to talk about Bitcoin. Among his comments, he noted Block will commit to using 10% of its gross profits from its various Bitcoin-related products to buy Bitcoin as an investment every month.
Dorsey encouraged other business owners to invest heavily in Bitcoin by "open sourcing" Block's investment plan. He calls it the Bitcoin Blueprint for Corporate Balance Sheets. The plan isn't very complicated, and individuals can easily replicate it.