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

<p><span style="font-weight: 400;">A special breaking edition of The Breakdown follows the market’s reaction to Square’s surprise $50 million bitcoin</span><span style= "font-weight: 400;"> investment. </span></p> <p><span style="font-weight: 400;">NLW breaks down the foundations for the investment, including:</span></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">2020’s alignment between the bitcoin narrative and structural economic realities</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">An increase in bitcoin’s perceived resilience</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">The precedent set by MicroStrategy</span></li> </ul> <p><span style="font-weight: 400;">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.</span></p>