‘Paper money is going away ’ Elon Musk

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3 years ago

Future belongs to digital currency .

We are living in this age of humankind where digital decentralized currency takes the driving seat of tradional money .

The recent announcement by Tesla (TSLA) that it would begin accepting Bitcoin as payment for its cars – and that it was buying $1.5 billion of the cryptocurrency – put digital finance under the spotlight like never before. The price of Bitcoin soared to new highs, hitting just under $50,700, as of 25 April 2021.

DESPITE the bearish trend in the crypto market, the major investors of Singapore tech giants have bought 1000 bitcoin in recent weeks, which showed the investors interest in the digital currency as per Singapore newspaper.

I did a lot of research in order to buy bitcoin cash and other currencies. After searching weeks and weeks I found that this is the best time to invest in crypto in 2021, so as a researcher I invested all my money in digital currency and I got a profit too. I am not here to show off myself but to advise my fellows in read.cash , the most important thing is that the world giant is shifting towards crypto and most importantly towards Bitcoin cash.

 I want to show my research with my dear fellows on this platform. For your enthusiasm...

Software firm Microstrategy made a big bet on Bitcoin in August 2020, sinking $250 million into the currency. As of Feb. 11, that investment was worth just under $1 billion.

It didn’t stop there, though. The company kept buying – and now owns over 71,000 Bitcoin, valued at over $3.3 billion, nearly twice Tesla’s estimated holdings. Other public companies that have notable Bitcoin investments include Mass Mutual, Square, and Marathon Patent.

Uber (UBER), meanwhile, has indicated its open to considering accepting the cryptocurrency as payment. And Mastercard (MA) is planning to support digital currencies on its network later this year.

 “Crypto[currency] is a far better way to transfer value than pieces of paper,  that’s for sure,” Musk 

Who's next? Is It Apple?

Specifically, RBC suggested building a cryptocurrency exchange directly into Apple Wallet, potentially boosting its quarterly revenue by billions. Besides, the analyst wrote, Apple could fund the expansion by buying Bitcoin.

“If the firm decides to enter into the crypto exchange business, we think the firm could immediately gain market share and disrupt the industry (while simultaneously making the USA a leader in crypto for the next 10-20 years),” wrote Steves. “To put some numbers around this, Square generates ~$1.6B per quarter in Bitcoin. … Apple's install base is 1.5B and even if we assume only 200M users would transact, this is 6.66x larger than Square. Therefore, the potential revenue opportunity would be over $40 billion a year.”

But as of today, Apple doesn’t seem eager to jump into Bitcoin just yet, though. The company does not allow mining for cryptocurrencies on iPhones and does not allow its Apple Card credit card to be used to purchase cryptocurrencies. But sooner or later Apple has to move towards a digital wallet.

Digital currency is often hailed as a solution for long-standing challenges within the currency and payments ecosystem, yet little rigorous evaluation of its fitness for purpose and viability has been conducted,” said the World Economic Forum Digital Currency Governance Consortium in a 2021 briefing paper.

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