Falcon Corporate Services F.Z.C. Invests 75% Of Its Treasury In Bitcoin
Institutional adoption of Bitcoin continues to be on the rise, as several corporations worldwide continue to commit their treasury into the most valuable cryptocurrency. The institutional adoption of the digital asset has also increased the cryptocurrency market capitalization, which has recently crossed the $1 trillion mark again. In a new institutional investment in Bitcoin, Falcon Corporate Services F.Z.C., a public relations and advertising firm based in U.A.E., is the latest to commit funds into Bitcoin as they have announced that 75% of their market capitalization is now in the cryptocurrency.
B.C.B. Treasury aided the purchase for F.Z.C
The Dubai-based management consulting firm is now the latest institutional investor in Bitcoin after it announced that B.C.B. Treasury had played an essential role in the new acquisition. B.C.B. Treasury is well known across Europe and America, as they help investors of institutional nature manage their cryptocurrency assets. B.C.B. Treasury first announced F.Z.C. purchase in a press report, sighting that they are delighted to have been allowed to help F.Z.C. invest in Bitcoin.
BCB CEO Oliver von Landsberg-Sadie, in the news report, confirmed that F.Z.C.s investment amounts to millions of several dollars, as they become one of the clients his firm is planning to custody Bitcoin for. The executive believes that the $1.5 billion invested in Bitcoin by Elon Musk and Tesla is spurning many large corporations and firms to look the Bitcoin way. The institutional adoption of Bitcoin continues to be on the rise.
Landsberg-Sadie believes that Bitcoin will continue to grow in institutional adoption this year as the cryptocurrency’s price value continues to plummet. With the new move, F.Z.C. has now followed in the part of many well-known large corporations like Square, Microstrategy, and Tesla, who have committed their treasury to Bitcoin.
Why institutional investment in Bitcoin will be on the rise
Many of the recent fortunes of Bitcoin have been attributed to some individuals like Jack Dorsey, Micheal Saylor, and now Elon Musk. They have been influencing digital assets recently. Jack Dorsey, C.E.O. of Twitter, is known as a firm admirer of Bitcoin on social media. The tech guru has always discussed the fortunes of the cryptocurrency with his millions of followers on social media. Square, a payment company owned by Jack Dorsey, is also one of the first publicly known institutional investors in Bitcoin, as Jack confirmed earlier last year that the firm had committed millions of dollars to the digital assets.
Microstrategy, a company owned by Michael Saylor, is also believed to have invested $1.4 billion in Bitcoin and have plans to add another by the second $600 million by the second quarter of 2021. The effect of these prominent movers of the Bitcoin market cannot be underestimated as their influence continues to bring more institutional investments into Bitcoin. Many analysts believe that the future of Bitcoin is in the hands of future institutional investors of the cryptocurrency, and only time will tell.