I don't think the bad news is going to be that impactful knowing that in order to be manipulative, you should have incredibly enormous stacks of Bitcoin, and I doubt that companies that are investing in Bitcoin would collude together for their benefit. It defeats their initial goal in which thinking Bitcoin is the currency of the future.

I do believe that when companies start doing something like this, it's going to get more people in and learn more about it. It's going to be beneficial for everyone, and as long as they don't get scammed, Bitcoin is going to the moon.

With Square's Cash App, it's going to be more impactful for them. That's the excellent news for use crypto enthusiasts.

AFAIK, this has been their activity. They're known for accumulating before the pandemic. I've looked for some old articles and found one from 2018 and I think there's older than this but not later than the bull run of 2017.
(https://www.reddit.com/r/Bitcoin/comments/aw5art/square_bought_over_10000_btc_in_q4_2018_only/)
(https://cointelegraph.com/news/report-squares-cashapp-and-grayscale-consumed-over-50-of-bitcoin-mined-q1-202)

Well established companies have their own investment strategy and you can't say exactly that everyone of them will follow the way of manipulation. I am not seeing any risk factor here where its a good sign that famous business platforms are joining the bitcoin community with positive thinking. You have to keep in mind that only a small amount of people have knowledge about bitcoin and its use. Even worldwide governments are taking time to study about bitcoin before making it legal for their citizens. In a situation like this when companies like square join the bitcoin family by purchasing huge amount then obviously its gonna put positive effect on other companies and if I am not wrong then lot more companies are planning to start their journey with bitcoin.

Investor like them never run after hyip or waste their time to manipulate market. You may have seen that its only 1% of their total asset and hopefully they will invest more in the upcoming days. You have already mentioned on your post that market have started to be green and i don't think anyone will take it as a bad news. So, definitely you can expect bitcoin positive price and community development in the near future.

Dorsey has always been a bitcoin bull so there's no surprise that Square would acquire some bitcoins along the way. Besides, $50m is a small sum to ask for the marketcap of the payments company. This might just be a very small gamble that they are taking and to possibly influence positive bitcoin price movement too, considering that this somewhat changes the traders' perspective on the current events that's happening within the cryptosphere. Surely this acquisition won't hurt the bank, and might even pay more in the coming years so this is just a low-risk, high-reward gamble by the Twitter boss.

Owning Bitcoin does jack fuck for control of Bitcoin.

If Bitcoin was POS... then yes, but with POW.... Owning Bitcoin is NOT like having voting shares in a company.  I personally much prefer the POS model of ownership and "voting rights".

If you buy 1 million Bitcoins, you don't get 1 million votes of 21 million.  You get a bunch of imaginary internet stuff you can't touch that hopefully at least one other person in the world values and thinks they could sell to another person!

Nothing to sneeze at for sure. I'd love to have 50 million worth of BTC in my portfolio.  It is great to see people having so much fate in Bitcoin though!

Yep, we are still at the point where any public endorsement by prominent figures is important and helpful. Maybe in 10 years no one will care if some company buys $50M worth of Bitcoin, but today it's clearly enough to move the market.


I don't think that consumers are tracking the investment actions of companies and make some decisions based on that, so it won't cause mass adoption, but it would influence adoption among investors.

luckily bitcoin has a strong algorithm called proof of work which is unlike the shitty PoS meaning when you own a lot of bitcoin you don't gain any kind of edge whatsoever.
the only thing they can do by owning a lot of bitcoin is to dump it and cause a temporary price crash which doesn't make sense because why did they buy it in first place to dump later?

the only real bad news is that as more and more bitcoin is being bought (by anyone) there will be less of this limited currency and at a much higher price for the rest of us to buy.

It is a free market. Why haven't they done the same with Gold or other scarce assets? It is because they can't and it wouldn't be feasible. A high percentage of Bitcoin supply is held in cold wallets and not kept on exchanges as liquidity. If entity X decides to purchase enough BTC to manipulate the market, the market price would sky rocket before getting 'satisfied'.