Eoghan McCabe, the co-founder of the software conglomerate Intercom, said he jumped onto the Bitcoin wagon.
In recent months, the perception of Bitcoin as a store of value and a hedge against inflation has been strengthening.
The purchase of $425 million worth of Bitcoin announced by MicroStrategy in October sparked an institutional frenzy around BTC. Since then, Square publicly invested in Bitcoin and Stanley Druckenmiller acknowledged BTC as a way to hedge against inflation.
Why is the appetite for Bitcoin starting to grow now?
There are several key reasons behind the noticeable increase in appetite for Bitcoin in the past few months.
First, the speedy recovery of Bitcoin from its crash to $3,600 in March showcased its resilience and survivability.
Third, the infrastructure around Bitcoin has been improving with CME, Bakkt, and Grayscale seeing significant trading activity.
The confluence of all of these factors likely has made Bitcoin more compelling for institutions.
McCabe also personally responded to inquiries on whether Intercom would accept Bitcoin in the near future.
"Awesome! Thank you so much for using Intercom. Unfortunately the laws of physics of big companies state that there are years between the point a founder thinks something is a good idea and his company acts on said idea. Smiling face with open mouth and cold sweat But I also think Bitcoin is not a fit for us just yet."
Intercom co-founder jumps onto the "Bitcoin wagon," encourages others
Veröffentlicht auf Nov 16, 2020
by Cryptoslate | Veröffentlicht auf Coinage
Coinage
Neueste Nachrichten
Alle ansehen
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.