Today Venmo announced it would add bitcoin and other cryptocurrencies buy/sell option allowing nearly 77 million of its customer to hodl and trade crypto assets. With Venmo’s crypto integration now all top-7 iOS finance apps offer the crypto purchase and selling option, in what might have seemed too far-fetched only last year.
The crypto market is currently in the correction phase with Bitcoin and the majority of altcoins trading in the red. While the discussion around Bitcoin reaching its potential top was gaining momentum, today’s series of announcements including WeWork adding crypto to its balance sheet as well as offer it as a payment option would surely give rest to such arguments as crypto adoption by mainstream continues to flourish.
Until last year Bitcoin and cryptocurrencies were dismissed as a speculative asset class with no real-world use case, however, the ongoing bull run seems to be changing that notion fast as some of the top fortune 500 companies including Tesla and MicroStrategy added Bitcoin to their balance sheet while the likes of Venmo and Paypal added crypto trading option. WeWork and Tesla now accept Bitcoin payments along with adding them to their balance sheet.
Not just Fortune 500 companies, some of the staunch Wall Street critics including the likes of Goldman Sachs who until last year dismissed bitcoin as not suitable to be an asset class have not just started offering Bitcoin products but also listed it at the top of the “Best Performing Assets.” Apart from Goldman Sachs, JP Morgan, Morgan Stanley, and many other hedge funds have now added Bitcoin exposure.
Looking at the aggressive rate at which mainstream giants have started integrating crypto support more companies might come forward in the coming months to do the same and crypto might become the default payment choice.
- “At Some Point There’ll Be A Flash Crash” Says Gold Bull Peter Schiff
- Binance And FTX Worst Hit Exchanges As Losses Climb Almost Two Billion Combined
- Bitcoin S2F Founder says Current dip cannot stop Bitcoin from Adding Another Zero
- Football Clubs Look To Mine Cash Revenue With Crypto Offerings
- Fed Readying To Launch The US Crypto Policy? White House Directs Agencies To Prepare Report
- Here’s Why You Should NOT Yet Buy the Bitcoin Dip, Miner Capitulation Ahead?
- MicroStrategy (MSTR) Stock On Free Fall As SEC Rejects Its Bitcoin Accounting Strategy
- Second Consecutive Crash Day Extends Investor Loses Over $350 Billion, El Salvador Buys the Dip
- DeFi’s Liquidation Volume Hits $34.33 M ATH, The Highest Since Last year’s December
- Portugal opens First Physical Store for Buying and Selling of Bitcoin
- Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
- Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
- BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?