Last year’s backlash against Facebook’s planned digital currency libra would have been most CEOs’ worst nightmare. It hasn’t deterred Mark Zuckerberg.
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Elon Musk on Sunday asked about the possibility of converting “large transactions” of Tesla’s balance sheet into bitcoin, according to a Twitter exchange.
Bitcoin has surged about 20% this week, breaching $22 000 for the first time and stirring predictions that more gains lie ahead for the world’s largest cryptocurrency.
Bitcoin smashed through $20 000 for the first time on Wednesday, its highest ever, amid increased institutional and corporate interest.
Bitcoin may have grabbed the headlines in 2020 with a price gain of 160% for the year to date, but this pales alongside its smaller brother, ethereum, which has clocked up a gain of 344% so far.
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The last time bitcoin skyrocketed, in 2017, many wealthy investors largely stayed on the sidelines. No tthis time.
Criminals are becoming more sophisticated in their use of cryptocurrencies to launder money, with hundreds of millions of dollars of dirty funds last year flowing through digital wallets that allow users to hide their trail.
MicroStrategy has bought more bitcoin. The company paid $50-million for more of the world’s largest cryptocurrency at an average purchase price of $19 427, it said in a filing.
It’s not just bitcoin. A number of cryptocurrencies are posting even gaudier numbers than the progenitor of digital money.