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The World’s Top 10 Companies Could Be Interested in Cryptocurrencies

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Sep 24, 2021 at 10:30 // News

Cryptocurrency is gaining traction

Cryptocurrencies seem to be of interest not only to retailers, but also to big companies. The largest companies in the world are already involved in cryptocurrencies or could soon enter the industry.

The monsters

Since the outbreak of the coronavirus, the list of top 10 companies in terms of market capitalization has changed, with different ratings popping up with different data. Based on the latest 2021 rankings from Global Finance, the top 10 companies by market cap are Apple ($2.40 trillion), Microsoft ($2.14 trillion), Saudi Aramco ($1.86 trillion), Alphabet (1.860 trillion), Amazon ($1.68 trillion), Facebook ($992 billion), Tesla ($703 billion), Berkshire Hathaway ($636 billion), Taiwan Semiconductor ($606 billion) and Tencent ($592 billion).

In China, the country’s largest companies, including Tencent, Pinduoduo, ByteDance, Netease and others, saw their sales plummet after Communist Party cracked down on the industry. Tencent’s Pony Ma and Pinduoduo’s Colin Huang lost $12 billion and $15.6 billion respectively after the government cracked down on tech companies. Thus, the list of the largest companies by market capitalization in 2021 is dominated by American companies.

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A growing interest in crypto

Interest in cryptocurrencies is growing every year. Initially, institutions were interested in altcoins, but now many are putting their money into crypto, especially Bitcoin. Bitcoin hit $50,000 this week after several months before falling slightly, according to CoinIdol, a world blockchain news outlet. The whales also come from a range of sectors, including banking, technology, automotive and finance. Nearly all of the world’s largest companies by market cap are either interested in investing in and accepting cryptocurrencies, or intend to do so.

Apple

Although Apple currently accepts Bitcoin after adding Coinbase’s new debit card to its payment options, which allows customers to spend their cryptocurrencies in exchange for Apple products, there have been rumors that Apple has purchased $2.5 billion worth of Bitcoin. Alternatively, Apple customers can now use their BitPay Prepaid Mastercard at Apple Pay, which means they can spend their cryptocurrencies via Apple Pay. MicroStrategy’s Micheal Saylor, said in an interview with Bloomberg earlier this year that Apple was interested in buying bitcoin, although the company itself made no public comment.

Microsoft

Microsoft is one of the early crypto adopters. In 2014, a time when the world knew little about cryptocurrencies, Microsoft was already accepting them for the purchase of games and other digital content in its Windows and Xbox stores. It’s unclear when Microsoft will publicly move to invest in cryptocurrencies.

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Saudi Aramco

After investing $5 million in Vakt, a blockchain-based oil trading company, the cryptocurrency community was excited that the world’s largest oil company would be investing directly in cryptocurrencies, and rumors spread that Aramco had bought some bitcoin, which then turned out to be false. Nonetheless, as it goes, “no smoke without fire.” It could be that the company has been secretly investing in cryptocurrencies. Even then, the speed at which institutions are gaining interest in cryptos is fascinating and Aramco will eventually follow suit.

Alphabet

Alphabet, one of America’s largest multinational conglomerates, has long invested in blockchain technology, the platform on which cryptocurrencies run. While it does not buy cryptocurrencies directly, the technology it creates for banks is often used to process cryptocurrency transactions. Alphabet’s subsidiary, Google, currently accepts cryptocurrencies through Google Pay. Google Pay users can now add Coinbase Cards to their accounts and spend cryptocurrencies.

Amazon

Amazon, the world’s largest e-commerce company, does not currently accept cryptocurrencies, but it might only be a matter of time. In July, it hired a product manager for digital currencies and blockchain whose description included the phrase, “look at how Amazon’s customers pay,” something the crypto community believed was a step forward for Amazon to officially begin accepting cryptocurrencies. An analysis by Forbes also agrees that Amazon’s adoption of crypto payments is inevitable.

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Facebook

There is no official record of Facebook’s purchase of cryptocurrencies with the Securities and Exchange Commission (SEC). But Facebook’s CEO, Mark Zuckerberg, likes to carry on an intrigue. Back in May, he revealed that he was owning Bitcoin. However, he was not talking about cryptocurrency. Bitcoin is the name of his pet goat.

The community was wondering what Zuckerberg wanted to say with this move. Was he showing support for the flagship crypto? Or was it just a joke?

Still, the company’s interest in the industry is obvious. Facebook did a significant job developing its own digital currency, originally called Libra and now called Diem. There is no doubt that the world’s largest social media company will openly start putting money into independent digital currencies like bitcoin.

Tesla

Back in February, Tesla announced that it had purchased $2.5 billion worth of bitcoin before Elon Musk halted bitcoin transactions at the California automaker, citing environmental concerns. However, Elon Musk came out again to say that Tesla could resume bitcoin transactions soon. The company not only accepts payments in cryptocurrencies, but also buys and sells (invests) in cryptocurrencies. Its CEO, Elon Musk, is currently championing Dogecoin, a cryptocurrency that was originally created as a joke. Today, DOGE boasts a large market cap of $36.87 billion thanks to Elon Musk, the head of Tesla.

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Berkshire Hathaway

Although Warren Buffet, the CEO of Berkshire Hathaway says he “does not like Bitcoin” and considers it an “unproductive” asset, it has been alleged that the billionaire investor secretly put his money into SafeMoon, a cryptocurrency that was launched in March 2021. As analysts say, this drove SafeMoon’s market cap to $4.1 billion as of June 1.

Berkshire Hathaway has also invested $500 million in Brazilian digital bank Nubank, which offers crypto and other investment services to its customers. It’s only a matter of time before Buffet openly expresses interest in cryptocurrencies.

Taiwan Semiconductor

Taiwan Semiconductor (TSMC) is the world’s largest chipmaker and a major crypto mining partner whose revenue is driven in part by demand for crypto mining equipment. In April, the company announced it would invest $100 billion more to meet growing demand for semiconductors. There is no record of the company directly buying or selling cryptocurrencies, but it is certainly an important part of the blockchain and cryptocurrency ecosystem.

Tencent

Tencent Holdings Ltd is one of China’s largest tech companies with total revenue of $73.56 billion in 2020, and its WeChat platform has more than one billion active users. Tencent created its own digital token, QQ Coin in the early 2000s, right before Facebook entered the market. Today, Tencent invests mainly in blockchain technologies rather than trading cryptocurrencies. In April, the company announced a new $70 billion investment in blockchain, the underlying technology for cryptocurrencies.

Cryptocurrencies are growing at an unprecedented pace and have attracted the attention of major companies. Of the top 10 largest companies in the world, almost all have a direct or indirect interest in cryptocurrencies. It is only a matter of time before institutional investors also express their interest in crypto assets.

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Source: https://coinidol.com/companies-interested-cryptocurrencies/

Blockchain

Breaking: Bitcoin ($BTC) Smash Past $66K to Record New ATH, $70K by EOD?

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By

Prashant Jha

Published 18 seconds ago Updated 18 seconds ago

Bitcoin ($BTC) finally broke past the $65K barrier to record a new all-time-high as the top cryptocurrency now looks to enter price discovery mode again. $BTC is currently trading at $66,000with a 5% surge over the past 24-hours. The top cryptocurrency now set eyes on $70K and looking at the current bullish momentum it might not be far from it.

Bitcoin
Source: TradingView

$BTC started October under $45K after a bearish September but regained most of its losses from the past month in the first week and by the second week, it has already recovered most of the losses from the May market crash. Bitcoin proponents have predicted that October could reignite the bull run that was seen at the start of this year and $BTC surged nearly 3X before a bearish phase. If $BTC pulls a similar move as it enters a price discovery mode with no barriers in sight, the top cryptocurrency can easily surpass the $100K price prediction.

The bitcoin price rise comes in the wake of declining exchange supply as traders keep moving away from their $BTC in anticipation of the price surge. Bitcoin supply on exchanges has fallen to a three-year low indicating the high bullish sentiment.

The approval and record first day of ProShares Bitcoin Futures ETF ($BITO) also played a key part in top cryptocurrency’s newfound bullish resurgence. $BITO recorded the second-largest ETF volume on debut with nearly $1 billion in trading volume.

Every Bitcoin Holder Ever Now in Profit

Bitcoin’s new ATH also ensured that anyone and everyone that ever purchased $BTC at any price is currently in profit. MicroStrategy, the leading Fortune 500 company is currently over $3 billion in profits over their $BTC holdings while Tesla’s $BTC profit jumped over $1 billion.

The price surge also depicts the contracts in market sentiments just a month apart. Only in September, many critics were calling for another bottom and today the market is looking towards a $70K price target.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/breaking-bitcoin-btc-smash-past-66k-to-record-new-ath-70k-by-eod/

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Blockchain

Billionaire Peter Thiel Thinks Bitcoin Crossing $60,000 Is A Pretty ‘Hopeful’ Signal — Here’s Why

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Billionaire Peter Thiel Thinks Bitcoin Crossing $60,000 Is A Pretty ‘Hopeful’ Signal — Here’s Why

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Peter Thiel, the billionaire founder of Palantir and co-founder of PayPal, is doubling down on Bitcoin. 

Peter Thiel: Bitcoin Is The “Most Honest Market”

Bitcoin has climbed back past $60K after its early 2021 parabolic run slowed. The bitcoin price has added 2.79 percent over the last 24 hours, taking it within touching distance of its all-time highs. BTC hit $64,490 on Tuesday — just shy of the 64,804 high set in April.

BTCUSD Chart by TradingView

Thiel claimed that the world’s largest cryptocurrency by market cap topping the $60,000 mark was a very optimistic signal.

“I don’t know that you should put all your money into bitcoin at $60,000 a bitcoin right now. But surely the fact that it is at $60,000 is an extremely hopeful sign,” Thiel said recently during a conference hosted by the Stanford Federalist Society.

Bitcoin’s fresh rally comes as the first-ever bitcoin-linked exchange-traded fund (ETF) is greenlighted in the United States. The ProShares Bitcoin Strategy Fund launched on the New York Stock Exchange under the ticker BITO with an opening price of $40.88. The bitcoin futures-based ETF registered over $1 billion of trading volume on its first day, making it the largest in terms of “natural” volume. 

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The venture capitalist went on to describe bitcoin as the “most honest market” in the U.S. He touted the crypto’s latest price rise as the “canary in the coal mine”, which might suggest that the current “decrepit” regime is on the verge of exploding. 

“It’s the canary in the coal mine. It’s the most honest market we have in the country, and it’s telling us that this decrepit regime is just about to blow up.”

Thiel, an outspoken Silicon Valley supporter of former US President Donald Trump, harbors the opinion that the Biden administration is shaping up as an absolute “catastrophe”.

Thiel has been known for his interest in the crypto space. His billion-dollar big data analytics company Palantir already accepts bitcoin as a payment option. Moreover, he earlier declared that Bitcoin could become a financial weapon for China against the United States. Thiel has also opened a Bitcoin mining facility in West Texas.

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Source: https://zycrypto.com/billionaire-peter-thiel-thinks-bitcoin-crossing-60000-is-a-pretty-hopeful-signal-heres-why/

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Blockchain

XRP Lawsuit: XRP Holders approach the court regarding the expert discovery extension dispute

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The latest development in the XRP lawsuit saw Attorney Deaton write to Judge Torres on behalf of Movants (XRP Holders) to consider the community’s “meaningful perspective” to aid the Court in “reach[ing] a proper decision” in Expert discovery deadline extension dispute. The letter noted that while the court formerly denied Movants’ Motion to Intervene in lieu of SEC’s argument that it will “hopelessly delay” the final verdict, the plaintiff now itself is appealing for a two-months delay with the extension.

XRP Holders appeal access to their funds

Deaton’s letter also refers to Ripple’s opposition to the commission’s expert discovery deadline extension request. According to the letter, Ripple’s argument regarding the “freezing” of XRP markets within the United States impacts Ripple, however, it also directly impacts the XRP holders. Deaton cited Ripple’s argument that “nearly every digital asset exchange in the United States” has de-listed or suspended trading of XRP, leaving XRP holders helpless.

Furthermore, a large sum of XRP Holders holds XRP in retirement brokerage accounts, which have also been “frozen” because of the SEC’s claims, alleging XRP to be an unregistered security. XRP holders are unable to touch their funds in any manner, including the inability to withdraw, due to the ongoing lawsuit.

“The lack of liquidity within the United States, coupled with the mass de-listings prevents XRP Holders from trading, selling, transferring, or converting their XRP. It is because of this de facto in place seizure of their property that XRP Holders took the extraordinary step to seek intervention as defendants… Any delay in the underlying action marks yet another day XRP Holders do not have access to their funds.”

Ripple opposition letter mentions frozen XRP markets

Following the SEC’s letter seeking a two-month extension of the Court-ordered expert discovery deadline, Ripple filed an opposition letter on October 18, requesting the court to deny SEC’s extension appeal to prevent further delay in the final verdict. Ripple asserted that extending expert discovery to January 2022 will “unduly prejudice” Ripple and continue to “freeze” XRP markets in the United States.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://coingape.com/xrp-lawsuit-xrp-holders-approach-the-court-regarding-the-expert-discovery-extension-dispute/

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