Bitcoin reached a record $62,575 (approximately 4.7 million rupees) on Tuesday, extending its 2021 gains to new heights. As more and more mainstream people use it as an investment and payment method, and investors seek high-yield assets at low interest rates, the world’s largest cryptocurrency has more than doubled its price this year.
Major companies including BNY Mellon, Mastercard and Tesla are all companies that accept or invest in cryptocurrencies.
Tesla CEO Elon Musk recently announced that Bitcoin can now be used to purchase the company’s electric vehicles, and the option will be available outside the United States later this year.
Musk, who has been promoting cryptocurrency through his Twitter account, criticized conventional cash in February this year, saying that when its “real negative interest rate is zero, only fools will not look elsewhere.”
PayPal announced in March that it has begun to allow American consumers to use their cryptocurrency to make payments to millions of online merchants around the world. This move may greatly promote the use of digital assets in daily business.
The company said that now, customers who hold Bitcoin, Ether, Bitcoin Cash and Litecoin in the PayPal digital wallet will be able to convert their holdings into legal tender for purchases at checkout.
President and CEO Dan Schulman told Reuters before the official announcement: “This is the first time you can seamlessly use cryptocurrency in your PayPal wallet, just like a credit or debit card.”
Thomson Reuters 2021 ©
Why did LG give up its smartphone business? We discussed it on the gadget 360 podcast Orbital. Later (from 22:00), we will discuss the new cooperative RPG shooting game “Outriders”. Orbital is available for Apple Podcast, Google Podcast, Spotify and wherever you get podcasts.