Major Companies Trust In Crypto

For quite a long time businesses were skeptical about cryptocurrencies. The main reason for this was that crypto was something new and unknown, thus it seemed to be a risky idea to use it for business. Things started to change when with the growth of people’s attention to the subject, the first attempts at official governmental regulations appeared.

It is important to acknowledge that since that time crypto and blockchain technologies have improved significantly. Nowadays crypto firms provide a much higher level of security and more business solutions. For example, they are able to provide faster payments with no third party, including international payments that are cheaper and faster than fiat payments aka “traditional ones”.

Another step towards wider adoption was the COVID-19 pandemic. Suddenly the world needed solutions to communicate distantly and fast. Existing instruments were not able to meet all the needs. At that time more people started to pay attention to cryptocurrencies. Moreover, the pandemic forced an economic crisis. The world faced progressive inflation. Cryptocurrencies became an instrument of protection against inflation. However, the most interesting thing is that before it had been used only by individuals, now it started to get attention from businesses and even countries. The famous case is undoubtedly El Salvadore’s.

Let’s look at some companies that invest in Bitcoin and became crypto supporters.

BlackRock

BlackRock is one of the largest asset management companies. The company is based in New York and it currently manages around $10 trillion assets for its clients. BlackRock is looking into an opportunity to provide crypto trading options for its customers. Basically, the idea is that BlackRock clients will be able to use crypto as collateral to make pledges.BlackRock is going to use the integrated investment management platform, “Aladdin”, which is short for “Asset, Liability, Debt and Derivative Investment Network”. Unfortunately, the exact timing of the project launch is unidentified. The only thing that is known is that the company started to hire people for the Aladdin blockchain strategy.

MicroStrategy

MicroStrategy is a software company, based in the USA. The company creates business intelligence products and services. Some time ago the company started to accumulate Bitcoin. The first investment by MicroStrategy was made in August 2020. It equaled $250 million dollars. Since then the company has made lots of BTC purchases.

Its current CEO Michael Saylor decided to use Bitcoin as a treasury reserve asset. According to the CEO’s announcement the company has two main points in its strategy: to grow enterprise software business and to accumulate more Bitcoin.

Forbes

Forbes, the well-known business information provider, has another interesting case of adopting cryptocurrency. In February 2022 one of the largest crypto service providers, Binance, decided to invest in this company to own a part of “an iconic business information brand”. The investment was made through Magnum Opus Acquisition Limited, a publicly-traded special purpose acquisition company. Forbes announced that an investment amounted to $200 million. With the help of the new partner, Forbes is going to the New York Stock Exchange under the ticker “FRBS”.This step will take Forbes further in the crypto adoption and will help to create more engagement in the audience. So far Forbes has been working on crypto education, explaining to the readers all the aspects of this sphere.

We can see that in the last couple of years the Crypto World has been through a lot of changes. They are not only about business participation but also about the massive changes in crypto legislation all around the world. 

As a result of the last couple of years, there is a chance to witness the growing speed of cryptocurrency adoption. The interest among people is growing rapidly. Thus more companies see it as an opportunity now. This is surely the first step. When business giants agree to adopt new technologies, it is only about time that smaller companies will follow.