《 PayPal recently rolled out its new crypto trading platform to all its eligible U.S. customers. In the first half of 2021, the company plans to expand the service to all its 26 million merchants globally, including to its popular payment app, Venmo 》 according to Chris Kline, from the Forbes Council member. He also serves as Co-Founder and Chief Operations Officer at Bitcoin IRA
The entry of numerous big players into the crypto world didn't go unnoticed. The pandemic had probably a big role in the recent fluctuations. The fact that major names in several industries have registered major losses due to travelling restrictions. Obviously, where there is no human flux, there is not much of business going around.
Having to reduce their activity and shut down many working businesses.
Not having power over their funds or businesses, is not the best thing that could have happened after years of shaping the perfect form of capitalism.
Shifting parts of their capitals to crypto or even considering crypto businesses in the very near future has become a big challenge. An imminent fact, that the rest of the world will have to face sooner than expected.
Rushing to be the new world's biggest holder is what's been keeping them busy lately.
Another one on the list of the biggest names that entered the crypto market : Nike. On Dec 2019,
the US Patent Office had issued Nike‘s patent for its blockchain-compatible sneakers dubbed “CrpytoKicks.”
Last summer, the sportswear brand announced a bounty reward program through Plutus, a FinTech startup based in London, UK.
Allowing the shoppers to get a 3% crypto cash back for every crypto purchase made on their e-store. Or up until 9% or cash reward on their credit card. According to BitcoinExchangeGuide.
They are certainly not the first, nor the last.
Square, the American financial services company. Based in San Francisco, California. With an actual Stock price:
SQ (NYSE) $219.15 +3.19 (+1.48%)
Feb 1, 13:40 EST.
The company that also offers multiple secure payments services and platform, has purchased around 50 M$ in bitcoin years after adding bitcoin trading to its cash app. Which was about 1% of the company's total assets by the end of last year's second quarter. That came pretty late too. Since the company had added bitcoin as a form of payment in 2014. Yet Dorsey, has never really denied or tried to hide its enthusiasm for cryptocurrency and especially bitcoin. As he declared in 2018, that he believes, in the future, bitcoin would be the world's only currency.
The many publicly affirmed companies who chose to adopt bitcoin as a reserve asset. Have chosen to keep a direct control over their funds. Freedom and total control, privacy and security. These are the values every investor is looking for. This certainly benefits all the crypto based coins. But until now, many countries still don't allow crypto payments, and crypto businesses. The economy is fleeing to their first escape room leaving the world unbalanced.
How can the rest of the world follow on a said "fair" market, while the rules are still restraining more than half of humanity from having access to internet, to real products, real food. It is nice to see that there is always an escape plan for companies. What happens to the values of crypto, what happens to a better world , a world without poverty, or hunger ?
Sure that many of the big institutional names and industrial giants haven't totally supported crypto yet, but it is really only a matter of time until more than 50% of their assets become untouchable, and unstoppable.
Having such giants, enjoy more freedom and control over a world that is already fading, is it a blessing or a darker deja-vu ?
To answer my previous question on the end of bitcoin, this is only the beginning. And bitcoin is only one of many, but certainly the most popular and cinema friendly.
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