Swiss National Bank enters the cryptocurrency market! Purchasing Microstrategy stocks, indirectly holding Bitcoin!
The Swiss National Bank purchased Microstrategy stocks, indirectly holding Bitcoin, setting a precedent in European and American countries, which may promote the adoption of Bitcoin by central banks. Microstrategy holds 230,000 Bitcoins, worth $13.1 billion, accounting for about 50% of its total market value. This move may trigger other central banks in different countries to follow suit, bringing potential benefits to the Bitcoin market
Investment Insights - Swiss National Bank buys shares of Bitcoin shadow stock Microstrategy, paving the way for Bitcoin adoption by other central banks in Europe and the United States.
On September 2nd, the news agency BITCOINLFG posted on platform X that the Swiss National Bank is buying shares of Microstrategy. Microstrategy, a US technology listed company, whose founder Michael J. Saylor is a staunch Bitcoin enthusiast, has been continuously purchasing Bitcoin since August 2020.
【Tweet from BITCOINLFG, source: X】
As of the end of the second quarter of this year, Microstrategy has accumulated 230,000 bitcoins. Based on the market price of $73,000 on September 2nd, the value of the bitcoins held by the company is as high as $13.1 billion, accounting for approximately 50% of its total market value ($25.7 billion). This is why Microstrategy is also known in the industry as the "Bitcoin shadow stock".
Similar to other investors, the Swiss National Bank's purchase of Microstrategy's shares is equivalent to indirectly buying Bitcoin, setting a precedent in Europe and the United States, which may lead to imitation by other countries. Therefore, it can be seen as a potential significant positive development
