tldr; The National Bank of Canada has invested $273 million in Bitcoin indirectly by purchasing 1.47 million shares of MicroStrategy, a company known for its large Bitcoin holdings. This move allows the bank to gain Bitcoin exposure through a regulated equity instrument, avoiding the complexities of direct cryptocurrency custody. The investment reflects a growing trend among traditional financial institutions to incorporate digital assets into their portfolios, signaling increased institutional interest in Bitcoin-linked assets.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Ir0nman123 on
I really hope all this constant bullish news turns into me getting my money back.
partymsl on
They are really FOMO-ing into Bitcoin, but not all of Crypto yet…
Bigmoochcooch on
Finally we shoulda been stacking years ago and shoulda never kicked out binance
warjanitor on
just to be clear, this is National Bank and not Bank of Canada, headline reading National Bank of Canada might lead to some confusion
JimboyXL on
Their former president Louis Vachon used to be strongly against Bitcoin. I’m sure he was stacking during that time.
lordchickenburger on
273 is so little for such a smol country. Cant they do 1 trillion
MarioWilson122 on
So much bullish news over the past couple of months, unfortunately none of it seems to really turn into great price action.
8 Comments
tldr; The National Bank of Canada has invested $273 million in Bitcoin indirectly by purchasing 1.47 million shares of MicroStrategy, a company known for its large Bitcoin holdings. This move allows the bank to gain Bitcoin exposure through a regulated equity instrument, avoiding the complexities of direct cryptocurrency custody. The investment reflects a growing trend among traditional financial institutions to incorporate digital assets into their portfolios, signaling increased institutional interest in Bitcoin-linked assets.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I really hope all this constant bullish news turns into me getting my money back.
They are really FOMO-ing into Bitcoin, but not all of Crypto yet…
Finally we shoulda been stacking years ago and shoulda never kicked out binance
just to be clear, this is National Bank and not Bank of Canada, headline reading National Bank of Canada might lead to some confusion
Their former president Louis Vachon used to be strongly against Bitcoin. I’m sure he was stacking during that time.
273 is so little for such a smol country. Cant they do 1 trillion
So much bullish news over the past couple of months, unfortunately none of it seems to really turn into great price action.