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Top 5 Publicly Traded Companies In Bitcoin

top 5 publicly traded companies in bitcoin

Tesla (TSLA) said it invested $1.5 billion in bitcoin (BTC) and will allow customers to buy cars using the digital asset.

The move also opens up another way for people looking to invest in bitcoin – via ownership of Tesla stock. The stories circulated over the last few months about the people who may technically be millionaires but are locked out of their gains due to lost passwords, illuminated some of the difficulties of assets secured with cryptography.

This is one of the main tradeoffs for bitcoin: It may be a clever system, valuable, and groundbreaking, but it also has a learning curve. There are platforms that make investing easier, but bitcoin evangelist and Fundstrat founder Tom Lee points to companies like Tesla as another option. If you don’t want to own bitcoin, you can buy stock instead to get exposure.

MicroStrategy and its CEO Micheal J. Saylor are probably the most notable bitcoin bulls putting their money where their mouth is when it comes to their treasury. After putting in slightly more than a billion dollars in USD into bitcoin, they’ve seen that amount close to treble in value in a few months. MicroStrategy is a business intelligence company that is listed on the Nasdaq NDAQ -0.9% Index.

Michael J. Saylor is an interesting convert to bitcoin — in 2013, he had tweeted about how bitcoin reminded him of an online casino and that its days “were numbered”. Now, however, he has become a strong advocate for bitcoin. Shares of his company have now increased significantly in value as a result.

COVID-19 helped accelerate a number of digital reforms in companies large and small.

“We’ve seen two years’ worth of digital transformation in two months,” Microsoft CEO Satya Nadella said back in April.

Cryptocurrencies and blockchain have been part of that transformation. The companies utilizing these technologies run the gamut, from traditional financial powerhouses looking to develop their own cryptocurrencies, to fintech firms looking to add Bitcoin functionality to their products, to other companies using blockchain to improve their operations.

Bitcoin might not be right for many investors. In addition to not being able to buy it directly through a brokerage account, it might simply be too volatile for some.

“Cryptocurrency investing today is a bit like living in the early days of the 1850s gold rush, which involved more speculating than investing,” says John LaForge, Head of Real Asset Strategy at Wells Fargo Investment Institute.

Let’s dive into our top 5 list:

Paypal Starts Crypto Service: CEO Reveals Increased Limits

[vc_row][vc_column][vc_column_text c_id=”.vc_1604616008936″ css=”.vc_custom_1604616008935{margin-bottom: 0px !important;}”]Payments giant Paypal has revealed more details of its new cryptocurrency service. The company is currently rolling out crypto functionality to U.S. customers, after which it will launch the service internationally and on the Venmo platform.

Paypal CEO Dan Schulman provided new details of the company’s new cryptocurrency service during the Q3 2020 earnings call on Monday. Paypal recently announced that its customers will be able to buy, hold, and sell cryptocurrencies, including bitcoin, directly from their Paypal accounts. Cryptocurrencies in Paypal accounts can also be used to pay for purchases at 28 million stores worldwide.

“Clearly the world is rapidly moving from physical to digital and that’s so true for payments and financial services,” Schulman began. He added that based on his conversations with central banks and people in the crypto industry, “there’s no question that digital currencies are going to be rising in importance, having increasing functionality and increasing prominence.” The CEO also believes that central bank digital currencies (CBDCs) “are a matter of when and how they are done, not if.”

He claims that Paypal, with its digital wallets and the scale it currently has, “can help shape the utility of those currencies.” The CEO opined: “I do think that our platform and the new digital infrastructure that we are putting in place right now can help make that management and movement of money more efficient and less expensive and faster.”

Regarding Paypal’s recently announced crypto service, the CEO shared: “Our base is very eager for us to offer these capabilities. It really came up very high on their wish list.” He additionally revealed:

[/vc_column_text][/vc_column][/vc_row][vc_row full_width=”stretch_to_container”][vc_column][ultimate_spacer height=”90″][/vc_column][vc_column][vc_column_text c_id=”.vc_1604615942349″ css=”.vc_custom_1604615942349{background-image: url( !important;}”][vlt_particle image_size=”leedo-800×600″ y=”-100″ x=”0″ image=”1241″ style=”bottom: -90px; left: calc(-160px – 15px); max-width: 250px;”][vlt_particle image_size=”leedo-800×600″ y=”100″ x=”0″ image=”1245″ style=”top: -75px; right: calc(-75px + 15px); max-width: 150px;”][vlt_image_slider images_type=”custom” dots=”” nav=”1″ images=”1267,1314,1315″ images_height_desktop=”570px” images_height_tablet=”100%”][/vc_column_text][/vc_column][vc_column][ultimate_spacer height=”90″][/vc_column][/vc_row][vc_row][vc_column][vc_column_text c_id=”.vc_1604616081872″ css=”.vc_custom_1604616081872{margin-bottom: 0px !important;}”]Schulman, who previously disclosed that he owns bitcoin, elaborated:

But what I’m really excited about is what we are going to introduce next year, which I think is going to dramatically increase the utility of cryptocurrencies by enabling somebody who holds a cryptocurrency in a Paypal account to instantaneously transfer that crypto into fiat currency.

He explained that no additional integration is needed at the 28 million merchants and cryptocurrency transactions are “immediately settled into fiat,” adding that this method is “a lower-cost funding mechanism” for Paypal.

In conclusion, Schulman said that besides the plans detailed above, “Over the course of next year, you will see us move into a couple of different areas,” noting that he sees “a lot of interesting things” Paypal can do with cryptocurrencies. The CEO emphasized that his company is “Working hand-in-hand with regulators every step of the way which is so important in what they expect from us in order to be a market leader in the digital currency space.”[/vc_column_text][/vc_column][/vc_row]