Volatility swept across US markets over the last several days as fear and uncertainty surrounding the coronavirus as well as the US presidential election continue to take hold, causing the Nasdaq Composite to post its worst week since March.
On October 8, Square SQ, the payments company helmed by Twitter CEO Jack Dorsey, announced that it purchased 4,709 Bitcoins, a $50 million investment, representing 1% of the firm’s total asset. As a result, Square became the second technology firm to go long on Bitcoin in recent months after MicroStrategy MSTR, a business intelligence firm, crowned the crypto as its treasury reserve asset of choice.
