I’m not sold on Bitcoin or other cryptocurrencies. Despite being at the point in my life where, I’ve been told, I should consider making investments…I’m not just into financial risk. That being said, some companies don’t see accepting cryptocurrency as much of a risk.
According to Reuters, Bitcoin has seen soaring highs lately.
“The digital currency was trading up 3.3% at $54,206 amidst a broadly supportive risk rally, climbing toward a record high of $58,354.14 seen on Feb. 21.”
Mind you, most of that growth is likely due to individual investors, not because of a slew of companies are accepting Bitcoin now (though, that list grows larger every year).
More from Reuters:
Bitcoin has risen about 87% this year, broadly outperforming conventional asset classes, partly due to broader acceptance as a form of payment.
On Tuesday, bitcoin’s surge fueled gains in related stocks, sending shares of cryptocurrency miners Riot Blockchain Inc and Marathon Digital Holdings Inc soaring 28% and 22%, respectively.
In recent weeks, companies have taken advantage of bitcoin’s strength to raise hundreds of millions of dollars in funding, capitalizing on improved market sentiment.
Bitcoin bank Silvergate Capital Corp on Tuesday launched a $300 million program to sell shares, less than two months since it raised equity, while business intelligence software company MicroStrategy Inc recently issued notes in order to fund more bitcoin purchases.
It seems more people than ever — perhaps some of your corporate clients — are trading in Bitcoin and other cryptocurrencies. Maybe that’s a result of a slow recovery from a pandemic, but maybe it’s also a sign of continued growth for the technology.
So I have to ask, #AVTweeps: would you ever take cryptocurrency for your audiovisual services?