Tag Archives: Bitcoin Adoption

This comes on the back of a large Bitcoin dip following the most recent news that came from Tesla and its decision to halt bitcoin payments for its products. A Slowdown of Enthusiasm The unbridled electric energy in the air surrounding Bitcoin briefly halted after major cryptocurrencies plunged over 20% shortly following Elon Musk’s announcement that Tesla would no longer accept BTC. Square’s massive Bitcoin position – 8,027 bitcoins – took a temporary dive, especially in...

The government officials of Cuba examine crypto adoption as an instrument to overcome financial turbulence in the country. This comes a few weeks after the Cuban authorities started discussing the implementation of digital assets in the economy. Crypto vs. Monetary Turmoil The economic situation on the island of Cuba suffered heavy setbacks due to the consequences of the COVID-19 pandemic. Moreover, the government implemented crippling sanctions on the residents, which had a...

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...

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...

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...

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...

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...

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...

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...

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...