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Tag Archives: Bitcoin Adoption

Palantir Accepts Bitcoin for Payments and Considers Adding BTC to Balance Sheet

Software & analytics company Palantir has announced that they will be accepting Bitcoin as a payment method. Palantir will also consider purchasing Bitcoin or other cryptocurrencies to store on their balance sheet. Thiel Bets Big on Bitcoin Peter Thiel, the co-founder of Palantir (and, notably, PayPal), has been a long-standing cryptocurrency advocate. The company announced that it now accepts BTC for payments and even considers adding it to its balance sheet. As early as...

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Square Reports Record-Breaking Revenue, Driven by Bitcoin Purchases

The electronic payments fintech Square Inc. proved with numbers that Bitcoin is good for business, and its financial results are the best evidence. Square Inc.’s quarterly sales more than tripled, thanks mainly to the recent interest in cryptocurrencies by the general public. Bitcoin Means Business In a letter to its shareholders published this week, Square Inc. revealed that in the first quarter of 2021, it achieved a gross profit of $964 million, representing a 79% increase...

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House of Representatives Passes Bill to Create a SEC-CFTC Crypto Taskforce

U.S. regulators are looking for ways to organize and adapt their laws to the rapidly changing world of cryptocurrencies. A bill to create a joint force between the SEC and CFTC to better understand and regulate cryptocurrencies has already been passed in the House and is ready to be introduced in the Senate. The Eliminate Barriers to Innovation Act of 2021 seeks to shed some light on the complicated regulatory landscape that hinders the development of cryptocurrency...

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Besides Tesla: Other Great Companies That Adopted Bitcoin For Payments

With bitcoin’s continued increase in price and popularity, the asset’s mass adoption has skyrocketed in recent months. Apart from notable names purchasing BTC as a store of value, numerous large and small companies introduced bitcoin payments for their products as an alternative to fiat money. Tesla Leads the Way Bitcoin has had a wildly compelling year as institutional investors, banks, and fund managers continue to back up the cryptocurrency in any shape or form. But way...

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Bitcoin is at Tipping Point, Says Fidelity Digital Assets’ Head

A few months after questioning bitcoin’s store of value status, Tom Jessop, the head of Fidelity Digital Assets, stated that BTC and the entire industry are at a “tipping point” in terms of maturation and global adoption. He breached the COVID-19 pandemic and the “ultralow” interest rates as the most significant reasons behind crypto’s rise. Tipping Point for Bitcoin Adoption Fidelity Investments has been among the most receptive institutions when it comes down to the...

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Central Bank of Nigeria is OK With Crypto: We Are Not Discouraging People From Trading

The Central Bank of Nigeria apparently has no problem at all if the country becomes a so-called Bitcoin Nation and recently clarified that rumors of a general crypto ban were nothing more than a misunderstanding.According to a report published by the local newspaper Today Ng, the central Bank did nothing but to draw a line between crypto related banking activities and the use of cryptocurrencies by the population.In other words, in Nigeria traders have total freedom to transact with crypto as...

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Tech Firm Meitu Buys Another $50 Million Worth of Bitcoin and Ethereum

Meitu is a software development firm listed on the Hong Kong Stock Exchange, most known for its selfie-editing app. The app was massively popular in China before adding built-in filters and editors to major social media platforms.Since then, however, the company has struggled to find new avenues of growth. Now, the company is following other major corporations’ footsteps and buying cryptocurrency, not only because they believe the price will go up.Hundred-Million Dollar Buy-InToday, Meitu...

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Wall Street Giant Morgan Stanley to Enable Institutional Clients Access to Bitcoin

Just a few months after America’s oldest bank announced bitcoin custody services, the Wall Street giant Morgan Stanley will start offering its clients access to BTC funds. Nevertheless, the bank has outlined bitcoin’s risky nature and said that only people with “an aggressive risk tolerance” should take advantage of the service. By citing an internal memo sent by Morgan Stanley to its financial advisors, CNBC reported the significant milestone in BTC’s adoption cycle earlier today. The...

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Norwegian Oil Mogul Sets Up $58 Million Entity to Buy Bitcoin

The institutional bitcoin frenzy continues to spread like an epidemic. After several United States mega corporations added the digital currency to their balance sheet, the floodgates have been opened to major institutions across the world. Norwegian holding company Aker ASA said today that it will establish a new unit dedicated to bitcoin investment and the digital asset’s underlying technology.Miss Out? “No Way”!Asian smartphone giants, Meitu yesterday joined the league of institutional...

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India’s Crypto Ban Uncertain as Finance Minister Touts a Window for Experiments

India’s Finance Minister told CNBC that the country’s reserve bank is not shutting out cryptocurrencies entirely. She said that while the Reserve Bank of India will decide which unofficial cryptocurrencies will be used and regulated, there will be “a window for experiments” in the industry.New Lease Of Life For Bitcoin In IndiaIndia’s minister of finance, Nirmala Sitharaman, spoke briefly on the country’s standpoint on digital assets in a CNBC virtual townhall. She said that several...

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