They are swiftly leaning towards cryptocurrencies, primarily Bitcoin, as they notice the upside that lies there. Industrial giants from multiple sectors have been
extensively investing in Bitcoin as a hedge against inflation and are exploring the blockchain infrastructure.
Here’s a list of companies that have time and again upheld Bitcoin:
The business intelligence solutions firm has been heavily investing in Bitcoin since Aug 2020. They invested around
$475 million in Bitcoin, followed by a feisty move of issuing a convertible senior note of
million to raise funds and add more Bitcoin to their reserve in Dec 2020.
And just like another regular day, they went Bitcoin shopping on March 12 to buy another 262 BTC. Currently, MicroStrategy holds around 91,326 BTC* in their treasury reserve.
Not only do their investment in the digital asset speak for the confidence they have in Bitcoin, their founder, Michael Saylor, is also a Bitcoin advocate who has been endorsing it through his Twitter.
Elon Musk has been known for his outspoken views on upcoming technologies, and he has vastly covered Bitcoin under it. He has been sharing his views about Bitcoin and Cryptocurrency for quite some time now. And Tesla’s recent investment of
$1.5 billion in Bitcoin reinforced the company’s optimism towards it.
Additionally, they have also recently announced the allowance of Bitcoin as a payment means for their products. Elon Musk even shared that the Bitcoins received as payments will be retained and not converted into fiat.
The payment giant PayPal has also been one of the key players that have helped Bitcoin and Crypto become mainstream through facilitating crypto payments.
They first announced their intention to launch the crypto payments for Bitcoin and a few other cryptocurrencies towards the end of 2020, which is now in action for US users and will be live for all of their user base in the coming months.
PayPal sees the potential to use cryptocurrencies as a means of payment and not restrict them to an asset class. The biggest challenge in which will be to withstand volatility which they are trying to curb by settling payments in fiat.
In the past, Jamie Dimon, CEO of JP Morgan, has held raging opinions against Bitcoin; he even remarked and called it a
‘fraud’ in 2017. However, they seemed to have jumped over to the other side lately as JP Morgan has been actively showing interest in Bitcoin. They have made a speculation that Bitcoin could surge to $
in the long term.