Cryptocurrency – or, more specifically, Bitcoin (BTC) – is exploding to a record-high. Hilarious money memes, such as the one below, are skyrocketing as BTC takes the U.S. by storm.
Who’s accepting and investing in Bitcoin?
While BTC is in the spotlight, many major corporations have started investing in and accepting it as a currency.
Elon Musk’s company invested $1.5 billion in Bitcoin. The company also said it would start accepting the currency as payment for its products. This resulted in BTC surging in price. Musk also has been responsible for BTC surges a couple of times through his Tweets.
Apple didn’t invest in Bitcoin, but Apple Pay users now can spend their Bitcoin. Apple partnered up with the BitPay app, which allows users to buy BTC and use the app’s prepaid Mastercard. The BitPay wallet can be added to both Apple Wallet and Apple Pay.
Like Apple, Mastercard didn’t invest in Bitcoin but started accepting BTC transactions in its network.
It’s one thing that major companies are accepting and investing in Bitcoin, but it’s a bigger deal that the government also is interested. The mayor of Miami, Francis Suarez, proposed paying municipal workers and collecting taxes partially or fully in BTC.
Paypal and Venmo
Paypal and Venmo announced that they would accept crypto transactions on their platform. Paypal is also allowing customers to buy and sell crypto, while Venmo is only allowing transactions between two people.
The nation’s oldest bank, Bank of New York Mellon (BNY), announced on Thursday, Feb. 11, that it would hold, transfer and issue Bitcoin and other cryptocurrencies on behalf of its asset-management clients. This is significant because this bank is known for being very old-fashioned.
There are plenty of questions out there
What will happen next with BTC? Will the government start regulating crypto? Who will invest next? Not all major players have bought in to the hype yet. Dave Portnoy, the founder of Barstool Sports and popular figurehead in the “Gamestonk” movement, said in a Twitter video that he’s “never buying Bitcoin.” What do you think?
Let us know your thoughts.