Forget investing in Bitcoin, the smart money is now in making investments using the cryptocurrency Bitcoin. According to a recent announcement from trading site eToro, it’s now funding its latest business ventures using BTC. Announced in mid-August, the move will see the company increase its presence in England’s Premier League through partnerships with seven top-flight teams. While financial firms cutting deals in the football world is nothing new, the interesting thing here is that eToro will pay its partners with Bitcoin.
For the average consumer reading a review of eToro, the site has recently become a player in the crypto game. Instead of forcing users to invest directly in the underlying asset (i.e. actually buying some Bitcoin), eToro allows people to speculate on its value. In other words, investors can speculate on the price going up or down. In contrast, when someone uses a traditional crypto exchange to buy Bitcoin, they’ll only make money when its value improves.
Wanting to continue this trend, the company is now showing that major business deals with high profile football clubs can be done using Bitcoin. With that being the case, this could spark a new trend which, in turn, finally makes Bitcoin the mainstream product its supporters have always wanted it to become. Of course, it’s not only eToro that’s been making business moves using BTC.
If you’re a gaming fan, you can pay for Microsoft content using Bitcoin. Even though these microtransactions aren’t quite on the same level as eToro, it’s an example of how gamers can jump on the bandwagon and pay in a new way. In line with Microsoft, Steam was also accepting Bitcoin payments until market volatility put paid to that at the close of 2017. If that wasn’t enough, you can also buy Bitcoin and bet on casino games, poker and sports using the cryptocurrency. Basically, the gaming industry is gradually switching to cryptos.
50 Cent Turns to Bitcoin
Even though it slipped his mind, hip-hop artist 50 Cent has shown that Bitcoin transactions can make good business sense. When the rapper decided to put a BTC price tag on his Animal Ambition album back in 2014, geeky rap fans decided to put their coins to good use. By the close of 2017, the price of Bitcoin topped $19,000 and 50 Cent’s forgotten stash was worth a hefty $8.5 million.
The Crypto Wage Revolution
Even though it’s not commonplace just yet, a number of companies are starting to pay employees in Bitcoin. Back in 2013, Kentucky police officer Tony Vaughn elected to have his wages sent to his Bitcoin wallet and now it seems the trend has caught on. GMO Internet, a Japanese web company, now pays up to 100,000 yen (approx. $900) in BTC. Although it’s optional, the GMO said the move is designed to improve employee’s “literacy” in cryptos.
Basically, the world is slowly starting to embrace Bitcoin and the world’s other leading altcoins. As eToro and other companies make big moves in BTC, the utility of digital currencies is starting to show itself to the masses and that can only be a good thing.