From KTVZ.com….
After years of skepticism, bitcoin is finally gaining mainstream credibility.
Tesla said last month it will soon accept bitcoin as payment for its vehicles, and disclosed it had purchased $1.5 billion in the cryptocurrency as part of its cash holdings. Meanwhile, Uber and Mastercard also said they plan to start accepting bitcoin. BNY Mellon and BlackRock are looking into bitcoin. And Jay Z and Twitter CEO Jack Dorsey announced they establishing a bitcoin development fund.
There is speculation that as more financial institutions invest in bitcoin, more companies will join. Some investors believe that it could be a good hedge against inflation and a weak dollar. The Federal Reserve cut interest rates in March 2020, severely weakening the US dollar and shooting up the price of bitcoin.
