Another Major Company Adds Bitcoin to its Books. Why BTC Enthusiasts Should be Encouraged?

7:56 am, Wed, 26 May 21

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Despite the massive correction in the price of BTC, major companies continue to invest in the flagship cryptocurrency, the I.T. behemoth Globant being one of the recent ones.

According to reports, $500,000 worth BTC have been purchased by Globant, which is encouraging for people who were somewhat doubtful after the shocking crypto market situations.

After the recent drop in Bitcoin’s price, a great number of short-term investors were seen to sell their BTC holdings, while the long-term investors remained optimistic. The investment of giant companies such as Globant can be taken as an indication that Bitcoin is still the largest cryptocurrency in the market and at the top.

After witnessing the optimism of long-term investors and investment of large companies such as Globant, people can be at ease and invest in Bitcoin through secure exchanges. If you are a potential investor, looking to purchase BTC then you can use SwissBorg or Kraken and invest in the digital asset.

Globant and its Investment in Bitcoin

Bitcoin recently took a hit after soaring high in the crypto market. Though this was discouraging for some, others made use of the crypto’s price and continued to accumulate more and more.

Globant is one of the companies that has made an astonishing investment in the digital currency as was revealed when the company recently filed its documents with the SEC.

Globant is an I.T. and Software Development company that was formed in 2003. The company is headquartered in Argentina with more than a dozen offices all around the world, including in Brazil, Mexico, India, Peru, Spain, Romania, the U.K. and the U.S. to name a few.

According to the document filed by the company,

Bitcoin is a cryptocurrency that is considered to be an indefinite-lived intangible asset because bitcoin lacks physical form and there is no limit to its useful life, bitcoin is not subject to amortization, but it is tested for impairment.”

Globant is not the only major company to step into the world of crypto in recent months.

Here are some other top organizations and companies that not only invested in the flagship cryptocurrency but also kept their holdings despite the recently occurred massive correction:

  • MassMutual
  • One River Asset Management
  • MicroStrategy made its first investment in August 2020 and now owns more than 90,000 Bitcoin
  • Tesla, one of the major companies, still owns its Bitcoin, despite recent controversies

Why Should Bitcoin Investors and Traders Still be Optimistic?

The investment of more than one major company in Bitcoin is one of the biggest reasons why BTC investors and traders should remain encouraged and hodle the cryptocurrency they own.

It is also important to note that the recent investment by Globant as mentioned above has been made after the drastic drop in Bitcoin’s price. This signifies and highlights the potential and utility of the digital asset, regardless of its price.

Therefore, people who have invested in Bitcoin or plan on doing so should be encouraged and hopeful regarding the future of digital currency.

This is also a suitable opportunity for people interested in buying Bitcoin to use popular exchanges such as SwissBorg or Kraken. On the other hand, people who are traders or want to become crypto traders should also be careful while choosing an exchange and opt for a known platform such as ByBit.