An increasing number of mainstream giants have put their money into Bitcoin in recent months. While some speculate that these firms intend to hold their Bitcoin investments for years, Bitpay’s chief commercial officer isn't so sure. He thinks that these companies may sell their holdings sooner than originally planned, if the price continues to move upward. “A lot of the institutional buyers bought in around $20,000, so that would be my floor for how far Bitcoin could go down,” Sonny Singh said in an interview with Bloomberg on Monday, following a bout of downward Bitcoin price action. “All those buyers …

A luxury auto dealership in Nevada has reported a steady increase in Bitcoin (BTC) payments, a testament to the bull market currently underway as more investors convert their holdings into high-end sports cars. Vegas Auto Gallery, whose inventory includes makes and models from Aston Martin, Bentley, Ferrari and Lamborghini, recently sold two high-end sports cars to customers who paid more than $6 million in BTC. As the Wall Street Journal reports, owner Nick Dossa says that roughly 3% to 5% of the dealership’s revenue comes from Bitcoin transactions. The dealership isn’t accepting Bitcoin payments outright, but through BitPay, a third-party …

Bitcoin (BTC) payments giant BitPay aims to form a national trust bank, based on its recent filing with the United States Office of the Comptroller of the Currency. “We confirm BitPay has filed an application with the United States Office of the Comptroller of the Currency (OCC) to establish BitPay National Trust Bank,” BitPay general counsel and chief compliance officer, Eden Doniger, told Cointelegraph. “A national trust bank is a limited purpose national bank that engages in trust activities.” A representative for the OCC told Cointelegraph that the office received BitPay's application on Dec. 7. With its limited operations, a …

As cryptocurrencies continue gaining mainstream attention, some of the industry’s native companies have also joined the spotlight. Bitcoin payment processing company BitPay joined the ranks of 499 other important technology companies today. Big Four accounting firm Deloitte sees BitPay as one of North America’s top 500 leading-edge technology outfits, as shown by its Technology Fast 500 list, BitPay announced in a public statement on Wednesday. BitPay sits in 341st position, beating social media powerhouse Pinterest, which holds the 348th spot. “The ranking is compiled based on submitted applications and public company database research, with winners selected based on percentage fiscal-year …

Crypto payment services provider BitPay has launched BitPay Send, a new blockchain-powered mass-payout platform for businesses. BitPay Send allows organizations who do not want to handle or own crypto themselves to process crypto payments en masse. It can be used to complete payroll payments, pay contractors or affiliates, and process customer cashback and rewards programs. Available in 225 countries, all recipients need to pass the Know Your Customer procedure and have a cryptocurrency wallet. BitPay claims the platform cuts processing time from days to minutes. The service has already been adopted by advertising platform AdGate Media in order to pay …

2020 will forever be remembered as the year of COVID-19, but there is no telling what the long-lasting effects of the pandemic will be on the global economy. Around the world, countries have been forced to shut down their local economies, with people having to shelter in place in order to observe the social distancing measures needed to curb the spread of the coronavirus. The immediate result of these measures has varied from country to country, but a common trend has been many companies and businesses having to fundamentally change their regular ways of operating. Those lucky enough to stay …

A candidate for the Wisconsin State Assembly is challenging a state regulator by accepting donations in cryptocurrencies like Bitcoin (BTC). Phil Anderson, a real estate broker and entrepreneur, now accepts cryptocurrency donations for his Assembly campaign. According to an official statement by Anderson, crypto donations are available via major cryptocurrency payment service provider BitPay. Anderson said that his campaign is accepting crypto donations despite regulatory uncertainty from the Wisconsin Ethics Commission. Back in 2018, Anderson accepted Bitcoin donations in his campaign for governor of Wisconsin despite the WEC finding them a “serious challenge” to compliance with state law. According to …

Bitcoin (BTC) payment and wallet company BitPay has chosen to take its company's working atmosphere remote, permanently. BitPay's team is "currently 100% remote due to covid and will be until further notice," the company's chief marketing officer, Bill Zielke, told Cointelegraph. "Then, employees will have option to use our offices or remain remote," he added. "We plan to have office space for meet ups, trainings, customer events, and company gatherings and events." A poll from within the company revealed: "85% of employees preferred to work from home and felt they were more productive," said a Tuesday statement. "This insight coupled …

Amazon-owned streaming platform Twitch appears to be ramping up its crypto strategy. The site, which focuses primarily on video game livestreaming, is now offering users a 10% subscription discount when paying with cryptocurrency through the platform’s payment processor, BitPay. BitPay’s chief marketing officer, Bill Zielke, told Cointelegraph that out of the thousands of merchants the company works with, Twitch is the first major global brand to offer a crypto-based promotion. Zielke added: “We are seeing more online merchants interested in using crypto as a promotional payment form, which is exciting since most marketing payment options are mainly reserved for alternative …

Twitter vows to add more security training and measures as the fallout from Wednesday’s wide-scale hack on the social platform continues. Twitter said in a statement that it is continuing its investigation into the hack while it looks to provide more company-wide security training against social engineering tactics. This will be in addition to cybersecurity coaching they get during onboarding and ongoing phishing exercises. About 130 accounts were compromised on Wednesday when hackers took over prominent Twitter accounts in a Bitcoin hoax. Those compromised included Elon Musk, Kanye West, Bill Gates, former vice president and current presidential candidate Joe Biden, …

Could Bitcoin be a credit card killer? Yes, according to one international furniture brand that has started accepting crypto as a payment method. Beliani is a European web-only retailer and manufacturer of modern affordable furniture and home accessories. It began allowing people to make purchases using Bitcoin (BTC), Ripple (XRP), Ether (ETH) and USD Coin (USDC) in the fourth quarter of 2019, the combined total of which represents 1%–2% of overall sales. For the company, digital assets represent a significant untapped opportunity, given how the crypto space has an “enormous” $250-billion market cap. Beliani’s main challenge has been raising customer …

The news that PayPal, the payments giant with 325 million active user accounts worldwide, was considering the direct sale of crypto assets — along with custodial services — had the crypto community buzzing last week, even if the reports couldn’t be verified. On July 1, a PayPal representative told Cointelegraph: “PayPal does not comment on rumors or speculation.” Guy Hirsch, the United States managing director of eToro, told Cointelegraph: “The importance of a global company like PayPal and Venmo getting into crypto is profound.” It will change the nature of cross-border transactions, which are now expensive and slow. Moreover, Hirsch …