Dubai's IBC Group makes largest investment in Bitcoin's history

[20kevin20]

After Tesla, Microstrategy, BNY Mellon, MasterCard, PayPal, Morgan Stanley and many other corporations, it seems like the domino ride has only just begun.

Recently, it has been announced that Dubai's IBC Group is pledging 100k BTC (yes, $5,120,000,000 at the current price) in order to set up a Blockchain Strategy Foundation and other Joint Venture Projects. Here's a little read from Yahoo! News:

Dubai’s IBC Group Pledges 100,000 Bitcoin, the Largest Bitcoin Investment in History, to Support Setup of the Miami 2.0 Blockchain Strategy Foundation

Khurram Shroff, the Chairman of Dubai's IBC Group, [..] has pledged 100,000 Bitcoin (current value of USD $4.8 Billion) to set up the Miami 2.0 Blockchain Strategy Foundation and many other related Joint Venture Projects. Mr. Shroff's backing of Miami 2.0 Blockchain Strategy could turbo-charge use of the cryptocurrency, which is estimated to transact USD $200 Billion per day, by the end of 2021.

The pledge by IBC group, the largest in Bitcoin history, will be significant in facilitating the digital-currencies adoption across multiple industries and critical in aiding Miami's vision to integrate Bitcoin in everyday transactions.

[..]

IBC Group was recently approached by landmark U.S based real-estate developer Burkhan World Investment LLC to increase the adoption of the blockchain technology in Real Estate and to enable efficiencies in government and private sectors. "Making the largest Bitcoin investment in history is proof of our commitment to assisting cities adopt Blockchain, which we see as the key to enabling widespread adoption," reiterated Khurram Shroff.

[..]

"Enabling investment into Real Estate utilizing Bitcoin as a collateral asset will further enhance its use case as a tool to create a hybrid investment vehicle for BTC holders," said Shahal Khan, Burkhan's CEO and Founder, "Economical debt coupled with a favorable hedge for BTC holders in stable long-term assets such as Real Estate, are a double win for digital currency holders as well as developers and property owners."

Inspired by Miami's Mayor Francis Suarez's commitment to blockchain, both IBC group and Burkhan are looking forward to being a part of Miami's strategic tech vision. In a recent interview, while talking about integrating bitcoin into certain government transactions, Mayor Suarez said, "Cities like Miami, we're trying to attract tech town. It's part of a larger play to position Miami as one of the most tech-forward cities in the country."

[..]

IBC Group has always commended the government of Dubai in leading the world with its Blockchain strategy. It believes that Miami can align itself with Dubai and become the first city to completely run on blockchain in the United States.

Source: https://finance.yahoo.com/news/dubai-ibc-group-pledges-100-175500092.html

[Lorence.xD]

This will be big for bitcoin, imagine the 1.5 billion USD bitcoin did for the prices, it got up to around 10k and now imagine if 5 billion USD could do for the prices, the 100k pipe dream would surely be achieved. And that will only be this rumor on IBC group, other rumors like Apple, MasterCard and other rumored company that are going to buy bitcoin are not included.

[tinopener]

Lot of money sloshing around that region.

Better Bitcoin than gold plated Lamborghinis

[Amejoaquim]

After Tesla and then Dubai IBC group.

No wonder why the price of bitcoin keep rising, this is very good start on feb 2021 for every crypto trader especially to all of believer bitcoin.

I think the price will keep rising on this Q1-Q2 and we still far away from the bloodbath.

[GreatArkansas]

This another big purchase will gonna blow the price of Bitcoin again. But this time, let's see how they will manage to purchase that very huge amount of Bitcoin, where they will buy? Coinbase OTC?
And my thoughts this time, it will happen what happened on the recent purchase of Tesla, we saw a huge purchase amount of Bitcoin on Coinbase on sideways before around $30,000 - $34,000.
Can't wait for Apple to buy 

[hd49728]

These investments from institutes, corporations are tips and the expansion of growth after that are more significantly.

If big techs invest in bitcoin, include bitcoin as one of their asset storages, they will do have solid plans to adopt bitcoin for their products as Tesla disclosed. From those big techs, I would expect to see more growth expansion for bitcoin and crypto products in the next few months and 4 years. The next halving day will be very well-deserving event.

Good adoption, and become more scarcity each block, what would be the price for bitcoin after the halving in 2024?

[Kakmakr]

Well, I am going to follow this news like a hawk, because it will make a significant shift in the way this technology is suppose to work. If they buy the coins and they use a third party as a Payment processor, then it will defeat the principle that Bitcoin is used as a currency.

Payment processors will just hoard the coins and make changes on internal ledgers and these transactions will not generate miners fees on the Blockchain. Miners fees is essential to the survival of this experiment, because it is supposed to replace the Block reward in the future to reward miners for their processing power. 

[Anonylz]

This will be big for bitcoin, imagine the 1.5 billion USD bitcoin did for the prices, it got up to around 10k and now imagine if 5 billion USD could do for the prices, the 100k pipe dream would surely be achieved. And that will only be this rumor on IBC group, other rumors like Apple, MasterCard and other rumored company that are going to buy bitcoin are not included.

Amazing news indeed, this year really started on a good pace, another 5bn in btc will definitely reflect positively to the price, and this will not only affect btc alone but alts as well, am just happy  knowing what is yet to come, people will be amaze to see the rate at which btc is trading by year end.

[verita1]

Miami Mayor Francis Suárez's new plan was effective.
Without a doubt IBC Group a landmark U.S based real-estate has approved this idea and has joined the bitcoin revolution.

Miami Mayor's vision is grandiose and timely right now that bitcoin can create a major technological momentum that would have dual effects boosting its economy and leading as a tech city.

Cities like Miami, we're trying to attract tech town. It's part of a larger play to position Miami as one of the most tech-forward cities in the country."

If anyone had thought that bitcoin has not demonstrated use cases. Now you can see that this is a small sample.