Eoghan McCabe, the co-founder of the software conglomerate Intercom, said he jumped onto the Bitcoin wagon.
In recent months, the perception of Bitcoin as a store of value and a hedge against inflation has been strengthening.
The purchase of $425 million worth of Bitcoin announced by MicroStrategy in October sparked an institutional frenzy around BTC. Since then, Square publicly invested in Bitcoin and Stanley Druckenmiller acknowledged BTC as a way to hedge against inflation.
Why is the appetite for Bitcoin starting to grow now?
There are several key reasons behind the noticeable increase in appetite for Bitcoin in the past few months.
First, the speedy recovery of Bitcoin from its crash to $3,600 in March showcased its resilience and survivability.
Third, the infrastructure around Bitcoin has been improving with CME, Bakkt, and Grayscale seeing significant trading activity.
The confluence of all of these factors likely has made Bitcoin more compelling for institutions.
McCabe also personally responded to inquiries on whether Intercom would accept Bitcoin in the near future.
"Awesome! Thank you so much for using Intercom. Unfortunately the laws of physics of big companies state that there are years between the point a founder thinks something is a good idea and his company acts on said idea. Smiling face with open mouth and cold sweat But I also think Bitcoin is not a fit for us just yet."
Intercom co-founder jumps onto the "Bitcoin wagon," encourages others
Published on Nov 16, 2020
by Cryptoslate | Published on Coinage
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