Companies are turning to Bitcoin


After MicroStrategy bought $ 250 million of Bitcoin, another company announced that it converted about half of its cash reserves to Bitcoin.

Snappa, a software company based in Ottawa, the capital of Canada, announced today that it has converted 40 percent of its cash reserves to Bitcoin.

Company co-founder Christopher Gimmer began his statement on the matter as follows:

“Would you prefer to keep your money in a currency whose supply grows each year or in a currency that is programmatically limited?”

Gimmer later drew attention to the interest rates approaching 0 and the point where the global economy has come, and used the following statements:

“Fortunately, I believe we now have a far superior savings technology. This technology is Bitcoin. ”

Snappa co-founder said they started accumulating bitcoins continuously since March of this year when the price dropped to $ 3,000. According to Gimmer, Bitcoin now makes up a significant percentage of Snappa’s overall cash reserves.

Finally, Gimmer stated that the current state of the macro economy and Bitcoin will be highly discussed issues in the coming years, and the value of currencies will continue to decrease, “We chose to use Bitcoin as the primary reserve asset in our balance sheet to avoid this risk.” said.

Speaking to CoinDesk on the subject, Gimmer said, “We are still saving and we have no plans to sell it anytime soon.” He spoke in the form.

The giant American company MicroStrategy, which has a market value of about $ 1.5 billion, has also announced that it has purchased $ 250 million in Bitcoin.

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