When a publicly owned company decides to invest about $250 million in an asset that was widely attacked more than a decade ago, it says a lot about how the world has changed. The reasons and the timing of Microstrategy’s bitcoin incursion could not have come at a better time for the company’s investors.
The constant reminders about the waning fortunes of the U.S. dollar on one hand and the growing recognition of bitcoin, on the other hand, all tell the story of a changing world.
To illustrate, it has been reported that the U.S. Federal Reserve has printed more money in two months than it had done in more than four decades. Such an unprecedented feat means it cannot be business as usual. There has to be a response to this new normal.
Similarly, the story of the Office of the Comptroller of the Currency (OCC), giving the green light for Banks to offer cryptocurrency custody services, is another important signal. It is a signal that reinforces the notion that the world has changed and that businesses need to…