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First Mover: Bitcoin Hits $11K as Square Exposes $2.3T Corporate Money Pot

Square's $50M bitcoin purchase has analysts doing back-of-the-envelope math on the possibility of rising allocations from corporate treasurers.

By Bradley Keoun, Omkar Godbole, Sebastian Sinclair

Updated Sep 29, 2023, 11:58 a.m. Published Oct 9, 2020, 12:39 p.m.

S&P 500 companies have a combined $2.3 trillion in cash and short-term investments, a new money pot for bitcoin marketers.