FOX Business’s Stuart Varney suggests that Tesla buy $ 1.5 billion in bitcoin and accept it as payment for cars.
Mastercard Inc. said on Wednesday that it is preparing to support cryptocurrencies directly on its network this year, as the company follows the rise in digital assets.
The company said more people are using cards to buy crypto assets, like Bitcoin, and using crypto cards to access and convert those assets into traditional currencies for spending.
UNIVERSITY STUDENT USES SINGLE BITCOIN INVESTMENT TO PAY FEES
“The trend is unmistakable,” said Raj Dhamodharan, executive vice president of digital assets and blockchain products and partnerships, in a post.
This will provide more opportunities for buyers and merchants to transact in a new way, as well as open new customers for merchants, the company said.
| Ticker | Safety | Last | To change | Change % |
|---|---|---|---|---|
| BAD | MASTERCARD INCORPORATED | 334.21 | +0.77 | + 0.23% |
While the move is not a recommendation for people to start using cryptocurrencies, it will provide people with a choice, Mastercard said.
The company will not support all cryptocurrencies on its network, adding that it will look for digital assets that offer significant consumer protection, compliance protocols and other measures.
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“This is a major change that will require a lot of work. We will be very vigilant about which assets we support based on our principles for digital currencies, which focus on consumer protection and compliance,” said Dhamodharan.
Earlier on Wednesday, Twitter Inc.’s chief financial officer, Ned Segal, said the social media company thought about how it could pay employees or suppliers using bitcoin.
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Tesla Inc. said on Monday that it bought $ 1.5 billion in bitcoin, a revelation that follows the promotion of cryptocurrency chief executive Elon Musk and other digital currency alternatives on Twitter.