Why crypto companies should be a part of your portfolio
When the richest person in the world speaks, the World including governments, banks, and investors listens. Money talks louder than words. Wall Street Journal in February reported Elon Musk decided blockchain is the future of finance by purchasing $ 1,5 Billion worth for the Tesla treasury. Musk seems to have shifted focus to Dogecoin from Bitcoin due to Environmental Concerns, as Dogecoin use 99,98% less energy than Bitcoin for an average transaction. Elon Musk’s embrace of cryptocurrencies is perhaps the most significant paradigm shift that has brought cryptocurrencies from the fringes to become 100% mainstream.
PayPal (market cap. $300+ Billion) in October 2020 announced that they would be a “bridge” bank intermediary between their 300 million customers potentially owning cryptocurrencies and their 30 million merchants wanting regular money instantly. 300 million customers is a very large population, a substantial part of the western world. Prior to this, cryptocurrency was not suitable for normal transactions. This is now possible with PayPal, making cryptocurrencies a natural business currency. PayPal only supports Litecoin (Scrypt), Bitcoin/Bitcoin Cash (SHA), and Ethereum (other). After PayPal’s backing of these 4 cryptocurrencies, these cryptocurrencies are up more than 200%.
VISA also offer several VISA blockchain currency cards that can transfer these to regular currency quickly. Along with currencies such as $, €, £ & ¥, currencies such as Litecoin, Bitcoin, and Ethereum are suitable for normal transactions.
MasterCard also jumped on the crypto bandwagon, and decided to be such a finance transfer intermediary. On February 10. 2021 MasterCard announced that they would also offer such a “bank bridge” software solution.
Contact your broker for trading of shares.