Cryptocurrency keeps making a boom in the market, attracting even retail investors to join the crypto ecosystem. The major investors of this growth circle are industrial giants.
These giants have their focus on cryptocurrencies, mainly Bitcoin, because of the benefits therein. That is why they continue to invest in Bitcoin as a cover against inflation comprehensively and inspect the blockchain network.
Without a doubt, the involvement of these giants is evident that Bitcoin is here to stay and growing stronger by the day. But, who are these giants?
Below is a list of giants that continue to endorse and uphold Bitcoin.
MicroStrategy made its grand entrance into the crypto ecosystem in Aug 2020, heavily investing in Bitcoin. The business intelligence solutions company has made an investment of nearly $475 million in Bitcoin. Not to mention an aggressive move of giving out a changeable senior note of $650 million for raising funds and accumulating more Bitcoin to their stock in Dec 2020.
Furthermore, they shopped for more than 262 BTC on 12th March. Now, MicroStrategy has approximately 91,326 BTC* in their capital store.
Apart from their significant investment showing their confidence in Bitcoin, Michael Saylor, their founder, endorses it via Twitter.
Elon Musk of Tesla has been candid on imminent technologies broadly including Bitcoin in his opinions. For quite some time, he has continued to give his views about Bitcoin and Cryptocurrency. Besides, Tesla made a new investment of $1.5 billion in Bitcoin, strengthening its positivity.
Moreover, they recently allowed consumers to pay for their products using Bitcoin. Elon Musk went ahead to say that they will reserve the Bitcoin payment they received and not convert it into a decree.
The payment giant has also played a significant role in endorsing Bitcoin and Crypto to get into the mainstream by enabling crypto payments.
At the end of 2020, PayPal publicized its objective to introduce the crypto payments for Bitcoin and some other cryptocurrencies. True to their word, this move is in action currently for US users and will soon be available for all their users in the coming months.
PayPal perceives cryptocurrencies as a mode of payment and does not restrict them to a reservoir. The major challenge is to withstand instability which they are trying to control by resolving payments in fiat.
In 2017 Jamie Dimon, CEO of JP Morgan, called Bitcoin a ‘fraud’ in his furious opinions. However, JP Morgan seems to have crossed to the other side as they have been showing significant interest in Bitcoin lately. From their keen interest, they have speculated that Bitcoin could rise to $ 146000 in the future.
JP Morgan is also introducing Bitcoin and other cryptocurrencies to their clients with organized notes. These notes are secured to a basket of stocks that are somehow linked to cryptocurrencies and other digital properties.
Goldman Sachs is another investment bank that had adverse opinions about cryptocurrencies. However, they have also currently taken a 360° turn as they come around on cryptocurrency trading.
Their entry into the crypto ecosystem arrives when cryptocurrencies rise with increasing demand from their clients. They have recommenced their Bitcoin trading desk after breaking off in 2018. Moreover, the Wall Street bank is also inspecting to enable Bitcoin ETFs.
Generally, industrial giants show interest in Bitcoin by either investing or facilitating to endorse it to the public. Because of this successful development, individual investors are also hopping on the bandwagon.