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Date:
19th Feb 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

Motley Fool Buys $5 Million of Bitcoin; Bill Gates Switches from Bearish to Neutral

Motley Fool—a Virginia-based company that provides private financial and investing advice, is investing $5 million in Bitcoin. Their decision coincides with Bill Gates' comments and his switching from bearish to neutral. Motley Fool mentions the coin's hedging properties, its store of value features rivaling gold's, and its role as a medium of exchange. Meanwhile, Bill Gates highlights the role of digital payment platforms like Bitcoin though he is wary of its volatility.


Details: 

Motley Fool joins other investment firms, public companies, and business intelligence platforms, allocating a portion of their cash reserves to Bitcoin and crypto. Tesla, MassMutual, MicroStrategy, Square, and more are already all-in, cumulatively owning more than $65 billion in BTC. On the other hand, the shifting of Bill Gates's view on Bitcoin is a subtle boost for the digital asset and the ecosystem. Three years ago, in 2018, he dismissed Bitcoin, saying he'd readily sell if given the opportunity. The philanthropist billionaire is concerned about Bitcoin's energy inefficiencies and its impact on climate.


Impact on the Bitcoin Price: 

Neutral to Bullish. The BTC/USD is charting new territories and has more than quadrupled year-to-date. At over $52k, analysts expect the coin's valuation to reach $100k, especially if more companies channel more of their cash reserve and make Bitcoin part of their strategic investment.


More market news over on our Blog


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