The mass adoption of Bitcoin has been going great, and there are a lot of important names that support the king coin these days.
Now, it’s been revealed that Square Inc’s chief financial officer Amrita Ahuja believes that more and more companies should add BTC to their balance sheet.
During an interview with Fortune magazine, Ahuja says there’s always an argument for companies to include the leading crypto asset in their war chest.
“There’s absolutely a case for every balance sheet to have Bitcoin on it,” she said.
As the online publication the Daily Hodl notes, Square has so far bought 8,027 Bitcoin.
Bitcoin investment is about 5% of Square’s cash
“The investment cost the mobile payment solutions provider $220 million, but the value of its crypto holdings has more than doubled to $471.3 million,” according to BitcoinTreasuries. Ahuja said that Square plans to keep Bitcoin on its balance sheet for the long haul.
“The investment that we made on our balance sheet for Bitcoin represents about 5% of our cash; we intend to hold for the long term here.”
The Square CFO added that she believes cryptos have the potential to extend the capabilities of the traditional financial system.
“We see Bitcoin and cryptocurrencies as expanding access to financial services, especially when you think more globally.”
Bullish BTC prediction s arise
The latest bullish BTC prediction comes from Danny Scott, who said that there is a bullish indicator that may propel Bitcoin to a new ATH.
Scott, who is chief executive of Isle of Man-based crypto exchange CoinCorner, noted on Twitter that people are buying Bitcoin and also stockpiling it in cold storage.
The CEO said the following: “The only time exchange Bitcoin balances dropped for a consistent period was 6 months in the build-up to the 2017 bull run. We’ve now passed 12 months, and it is] dropping significantly.”