BREAKDOWN: The Market Reacts to Square’s $50M Bitcoin Buy

Reactions from Bitcoin Twitter and beyond as Square puts 1% of its treasury assets into bitcoin.

This episode is sponsored by Crypto.com, Nexo.io and Elliptic.

A special breaking edition of The Breakdown follows the market’s reaction to Square’s surprise $50 million bitcoin investment. 

NLW breaks down the foundations for the investment, including:

2020’s alignment between the bitcoin narrative and structural economic realitiesAn increase in bitcoin’s perceived resilienceThe precedent set by MicroStrategy

He also discusses the market’s reaction, from the (potential) connection to Coinbase’s “apolitical” stance from last week to the notion of Square intentionally setting a framework others can follow. 

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