What is the payment company Square trying to do with its recent $ 50 million investment in Bitcoin? The company led by Twitter CEO Jack Dorsey announced on Thursday that it has bought 4,709 BTC. Which means that Square invests 1% of the assets in the crypto asset. Squre's support for Bitcoin has been known since March in the form of subsidies, but with the advance of Ethereum by the hand of Defi, this seems to be a choke to maintain the Bitcoin leadership.

Beliefs survive, even though there is a relative lack of supporting evidence. @Jack knows this and that is why he needs to validate his beliefs in Bitcoin as "True" or scientifically valid. Again, this is a rather obvious statement, although it seems that we tend to agree to act as if the situation were otherwise. Unique "Truths" that are essential in character can only be maintained by rigorously ignoring anything that does not conform to a particular belief system. Thus beliefs survive, even though there is a relative lack of supporting evidence.

Of course, there is a lot at stake, and in a way it reveals the weakness of their belief by having to support the power and malleability of the belief with money. But, as they say, money is power, so you have to wait to see if this move worked.