It goes without saying that when something reaches mainstream popularity, everyone wants a piece. And most firms have been able to integrate cryptocurrencies very effectively into their day-to-day transactions. Certain businesses have also gone about investing in cryptocurrencies, despite the added risk that they pose. Here are just a few examples of some of the biggest companies investing in crypto.
If we are to look at Tesla for example, they have bought about $1 billion worth of Bitcoin, as they are looking to make the market even more lucrative. Granted, since the owner of Tesla is Elon Musk, he is one of the most avid supporters of the entire crypto market. Musk was the one who pumped Dogecoin to success last year, and is the one who is currently sending ripples through the industry again thanks to their posts about Shiba Inu.
Another major company in the US, Square, has come out and disclosed to the SEC that they have been buying cryptocurrencies as well. They informed the commission that they have bought nearly $200 million worth of crypto in recent years. Square is easily the second biggest payment processing app in the US that has just recently allowed its customers to make transactions and hold onto cryptocurrencies as well.
Of course, these companies are not the only businesses looking to further invest in the crypto market. Franchises like College Hunks Hauling Junk is a company whose CEO recently came out and said that it is essential for their service to be tech savvy as well, seeing how they want to compete in the current market.
And much like most other types of businesses right now, Hunks’ CEO has started to allow its customers to make transactions in crypto as well. They have recently set up a Coinbase account, which will help them process payments from different clients. So if a client ever wants to pay in crypto, Hunks will just send clients their wallet address and wait for them to send the payments.
For now, they are only looking to accept two cryptocurrencies: Bitcoin and Ethereum. And the success of both of these crypto, it is obvious why they chose them. They both are the top two tokens in the market, and each of them are considerably safer than others. Therefore, they do not have any plans to accept any other cryptocurrency.
When looking back at the crypto market, it is remarkable just how far it has come. In fact, it can also be difficult to believe just how far it still has to go in terms of companies accepting it as a legitimate type of currency.