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 crypto is the future of finance by purchasing $ 1,5 Billion worth for the Tesla treasury. Cryptocurrency prices jumped after Tesla said it soon expects to accept customer payments in bitcoin. He also repeatedly backs Bitcoin (SHA-256) and Dogecoin (Scrypt) to his followers. Elon Musk’s full embrace of cryptocurrencies is perhaps the most significant paradigm shift that has brought Crypto Currencies 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 crypto 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 Crypto cards that can transfer crypto 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.
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