CryptoFly.us | CRYPTOCURRENCY BITCOIN SHIRTS CLOTHING APPAREL HATS

CRYPTO NEWS

Mastercard to Allow All Banks on its Network to Provide Bitcoin Services (Report)

In another venture within the digital asset space, Mastercard is preparing to expand the cryptocurrency economy in a whole new way, according to a recent report. The payment services giant will soon announce the provision of crypto-integrated services to every bank and merchant on its network.

Mastercard’s Big Crypto Plan

As revealed by CNBC earlier today, banks using Mastercard will be able to integrate cryptocurrency into many of their products. These could include credit and debit cards that enable Bitcoin payments, or loyalty programs for converting airline or hotel points into BTC. It may even include Bitcoin wallets.

Sherri Haymond – Mastercard’s executive vice president of digital partnerships – said she is eager to bring crypto services to the mainstream financial world.

“We want to offer all of our partners the ability to more easily add crypto services to whatever it is they’re doing. Our partners, be they banks, fintechs or merchants can offer their customers the ability to buy, sell and hold cryptocurrency through an integration with the Bakkt platform.”

To facilitate the service, Mastercard has collaborated with Bakkt – which will provide crypto-custody services for clients behind the scenes. Bakkt has partnered with multiple corporate giants in the past including Google, and was recently listed on the NYSE recently.

Bakkt CEO Gavin Michael elaborated on the features that come with the partnership. He confirmed that even restaurants and merchants would be able to convert their rewards points into Bitcoin. He said these services help lower the barrier to entry for people by letting them earn cryptocurrency without sacrificing real cash.

Refusing to Miss the Boat

Bitcoin has seen a string of successes as of late. It broke an all-time high last week, and also saw the first approval of a US Bitcoin Futures ETF.

Given the increasing interest in the asset, institutions have quickly asked Mastercard for assistance in providing crypto-related services. By integrating now, they are saving themselves from losing existing clients that may migrate to established crypto exchanges instead.

The competitive rush into digital assets will only help accelerate cryptocurrency adoption. In this case, Mastercard’s infrastructure could help average people reimagine how they use digital currencies in their daily lives. The company is connected with more than 20,000 financial institutions around the world. Meanwhile, over 2.8 billion Mastercards are in use.

Microstrategy Buys 7,002 More Bitcoins, Growing Crypto Stash to 121,044 BTC

Microstrategy has purchased 7,002 more bitcoins, growing its cryptocurrency stash to 121,044 coins. CEO Michael Saylor says, “Bitcoin is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.” Microstrategy Now Has 121,044 Bitcoins in Its Treasury The Nasdaq-listed company Microstrategy has purchased::Listen

Microstrategy Buys 7,002 More Bitcoins, Growing Crypto Stash to 121,044 BTC

Microstrategy has purchased 7,002 more bitcoins, growing its cryptocurrency stash to 121,044 coins. CEO Michael Saylor says, “Bitcoin is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.”

Microstrategy Now Has 121,044 Bitcoins in Its Treasury

The Nasdaq-listed company Microstrategy has purchased 7,002 more bitcoins. CEO Michael Saylor tweeted Monday:

Microstrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per bitcoin. As of 11/29/21 we hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin.

At the time of writing, the price of bitcoin is $57,095.58 based on data from Bitcoin.com Markets. This means Microstrategy’s bitcoins are now worth more than $6.9 billion.

Recently, Saylor discussed bitcoin becoming a $100 trillion asset class. He noted that bitcoin is winning against gold, asserting that “digital gold is going to replace gold this decade.” The bitcoin market cap is currently around $1.11 trillion.

In addition, the Microstrategy executive said he is not at all troubled by regulation that is being discussed in Washington, noting that it will affect security tokens, decentralized finance (defi) exchanges, crypto exchanges, and other use cases of cryptocurrency that are not bitcoin. In his opinion, “bitcoin is unstoppable as digital property.”

On Friday, Saylor tweeted, “Bitcoin offers better inflation protection than gold and is growing faster than big tech.” He believes that BTC “is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.” He emphasized, “In time, we will come to understand that it is concentrated energy in digital form and critical to the progression of our civilization.”

Commenting on reports that the Indian government may be seeking to prohibit cryptocurrencies, such as bitcoin and ether, the Microstrategy boss opined:

Bitcoin is digital property and is going to be adopted as a store of value asset in every nation that allows citizens to own private property.

In contrast, Saylor explained that “A stablecoin is digital currency for use as a medium of exchange and will be issued by chartered banks.”

What do you think about Microstrategy’s bitcoin purchase? Let us know in the comments section below.

Mastercard to Allow All Banks on its Network to Provide Bitcoin Services (Report)

Shopping cart
There are no products in the cart!
Continue shopping
0