Bitcoin Price Outlook - Mastercard Preparing Crypto Payments, Will Twitter Follow Tesla?

Bitcoin (BTC/USD) Price, Analysis And Chart:

  • Bitcoin stable around $45,000 and looking to press ahead.
  • Mastercard and Twitter (TWTR) are the latest names looking at Bitcoin (BITCOMP).

 

 

Bitcoin (BTC/USD) is back in the press again after two of the world’s largest companies said that they are looking closely at the cryptocurrency as a means of payment. In a press release, Mastercard’s (MA) Raj Dhamodharan wrote that digital assets are becoming a more important part of the payments world.

‘We are seeing this fact play out on the Mastercard network, with people using cards to buy crypto assets, especially during Bitcoin's recent surge in value. We are also seeing users increasingly take advantage of crypto cards to access these assets and convert them to traditional currencies for spending….We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network. This is a big change that will require a lot of work. We will be very thoughtful about which assets we support based on our principles for digital currencies, which focus on consumer protections and compliance.’

In addition to Mastercard’s seal of approval, Twitter’s finance chief Ned Segal told CNBC yesterday that they had been doing a lot of thinking about paying employees and suppliers in Bitcoin, following in the steps of Tesla at the start of the week. According to Segal, "One of the key things we'd look at would be if people were asking to transact with us in Bitcoin, because then we might consider whether we would be transferring dollars to Bitcoin at the time of the transaction, or if we wanted Bitcoin on our balance sheet, ready to complete that transaction.”

Bitcoin jumped sharply higher at the start of the week after Tesla CEO Elon Musk announced, via an SEC filing, that the company had bought $1.5 billion worth of the cryptocurrency and expect to begin accepting Bitcoin as a ‘form of payment for our products in the near-future.’

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