1) MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset

2) Facebook is reportedly expanding its banking ambitions with a new division that will run all of the tech giant’s payment projects, including Facebook Pay

3) The Great Chinese Money Experiment Is Over

Reading Notes

MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset

MicroStrategy® Incorporated (Nasdaq: MSTR),
the largest independent
publicly-traded
business intelligence company,

today announced that
it has purchased 21,454 bitcoins
at an aggregate
purchase price of $250 million,
inclusive of fees and expenses.

The purchase of
Bitcoin cryptocurrency
was made pursuant to
the two-pronged capital allocation strategy
previously announced by
the company
when it released
its second quarter 2020
financial results
on July 28, 2020.

https://www.businesswire.com/news/home/20200811005331/en/MicroStrategy-Adopts-Bitcoin-Primary-Treasury-Reserve-Asset

Facebook is reportedly expanding its banking ambitions with a new division that will run all of the tech giant’s payment projects, including Facebook Pay

According to a Bloomberg report, the new program will be called Facebook Financial, or F2, and will be run by David Marcus, the cocreator of the firm’s Libra cryptocurrency project.

The new group is one of the company’s latest efforts as part of its broader foray into commerce and finance.

Facebook Financial – or F2 – will oversee all of the tech giant’s payments projects, including Facebook Pay, the service launched in 2019 that allows users to send and receive money on Facebook, WhatsApp, Instagram, and Messenger.

https://www.businessinsider.com/facebook-financial-new-payments-group-2020-8

The Great Chinese Money Experiment Is Over

I’m fascinated that
China’s long experiment with
atoms about atoms
is almost over and
will soon be replaced by
bits about bits.

This will come about
not because of
Bitcoin or Libra,
Unionpay or PayPal,
but because the PBOC has been

strategic in its thinking and
tactical in its governance.

Their decisions on the topic
for many years
have been measured and consistent.

Digital currency is coming,
and China will take the lead
in digital currency
just as it did
in paper currency.

~ David G.W. Birch, Forbes, Fintech

https://www.forbes.com/sites/davidbirch/2020/08/09/the-great-money-experiment-is-over/#270823397a90

The post ROTD: Microstrategy Bitcoin Investment, Facebook Finance, Chinese Paper Money appeared first on Blockchain Insider.