This is a very good development for cryptocurrency. If 50% of the top 500 companies in the world could invest in bicoin and hold it then it will likely for bitcoin to experience a massive bullish run later this year.
To be frank sometimes statements referring to the positive aspects of crypto can be just an encouragement. It makes me wonder why a big company that is earning from its business will invest in crypto coin. In our country I know the biggest corporations to be investing in real estate but not in a commodity like crypto coin.
I read somewhere that 90 percent of wealth is controlled by 1 percent of the total population. I am not sure about the percentage but I agree that handful of people won most of the wealth.
This have really boosted my moral and I am going to try to invest more in bitcoin no matter what people tell me cos I always thought bitcoin will fall but now I can see that bitcoin is not based on what people think but what people invest.
A lot of big investors and companies hold a large portion of bitcoin as well as other altcoins. This is the reason why the cypto market is easily manipulated by the whales. The price of bitcoin has dropped substantially and I believe whales are already buying a lot of crypto coins.
I'm not surprised, bitcoin has proven to be an invaluable asset that's constantly increasing and no one that's a wise investor would want to miss out.
It's almost like the new crude oil.