Fun

Mexican Companies Are Willing to Join the Bitcoin Bandwagon in the Wake of Tesla’s Investment, Says Expert

News Feed - 2021-02-17 09:02:57

Mexican Companies Are Willing to Join the Bitcoin Bandwagon in the Wake of Tesla"s Investment, Says Expert


Bitcoin-buying frenzy among major companies could hit Mexican firms soon, as interest keeps increasing across the country. An expert is expecting that local businesses will follow the same path as mainstream U.S.-based companies such as Tesla. Current Bitcoin Performance Could Make Companies Rethink Their Business Models


During an interview with El Economista, Mauricio Hurtado, managing partner of Price Waterhouse Cooper Mexico, says Mexican companies’ current appetite to acquire cryptos like bitcoin (BTC) is seeing bullish steam.


Despite the uncertainties that cryptos have, current crypto market performances create enough confidence to rethink the current business model, said the expert. Hurtado added on the matter: This occurs because there is a significant number of players who are seeing in these currencies a transaction mechanism that is reliable and therefore, businesses adjust to market realities to prevail and have an advantage over their competitors; then you see an important change in this aspect.


Tesla, Microstrategy, Square Investments Leverage Bitcoin ‘as a Store of Value’


Moreover, Hurtado said that cryptocurrencies bring some “stability” to people in terms of their plans for savings.


Citing Tomás Álvarez Melis, Volabit’s director, El Economista stated that Microstrategy, Tesla, and Square’s million-dollar bitcoin investments also bolstered the consolidation of BTC as a store of value.


PWC’s managing partner agreed with such a statement, adding that crypto confidence is being transmitted to both retailers and companies. Hurtado pointed out that consulting firms should keep an eye on cryptocurrency developments and their consumer patterns: The technological changes that we are experiencing have made many entrepreneurs, such as Tesla, have a greater acceptance of cryptocurrencies as a means of payment in commercial transactions. It is a trend that is there, and we, as a firm, PWC, are very attentive in not neglecting all traditional currencies’ trajectory. But in giving the attention that corresponds to all the changes in terms of even market consumption patterns in the matter technology and employment patterns of the workforce, which has a direct correlation with currencies like this.


What do you think about such analysis on Mexican companies possibly following Tesla’s path on bitcoin? Let us know in the comments section below. Colombia"s Financial Superintendent Approves Nine Crypto Platforms to Work With National Banks FINANCE | 4 days ago Oldest US Bank BNY Mellon Sets Up Crypto Unit to Offer Bitcoin Services FINANCE | 5 days ago Tags in this story Bitcoin adoption, Bitcoin Tesla, Companies buying bitcoin, Latin America, Mexican bitcoin, Mexico, Mexico Bitcoin, microstrategy, Square, Tesla


Image Credits: Shutterstock, Pixabay, Wiki Commons Use Bitcoin and Bitcoin Cash to play online casino games here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

US leads $1.35B weekly surge in digital asset inflows — CoinShares
Josh O"Sullivan12 hours agoUS leads $1.35B weekly surge in digital asset inflows — CoinSharesCoinShares reports an unprecedented inflow into digital asset investment products, signaling growing investor confidence and
Biggest Movers: ADA Extends Gains, as SOL Consolidates on Saturday
Biggest Movers: ADA Extends Gains, as SOL Consolidates on Saturday Cardano rose for a second straight session to start the weekend, as the token continued to move away from a key
Bitmex Restricts Ontario Residents as Mandated by Canadian Regulator
Bitmex Restricts Ontario Residents as Mandated by Canadian RegulatorCryptocurrency derivatives exchange Bitmex will be restricting access to users from Ontario, Canada, starting the
‘Disable iMessages’ ASAP to avoid crypto zero-day exploit: Trust Wallet
Brayden Lindrea8 hours ago‘Disable iMessages’ ASAP to avoid crypto zero-day exploit: Trust WalletThe firm’s CEO, Eowyn Chen, shared a screenshot of the supposed “high-risk” exploit being sold on the dark web fo
Tether and Smartpay to Offer USDT at More Than 24,000 ATMs in Brazil
Tether and Smartpay to Offer USDT at More Than 24,000 ATMs in Brazil Tether, the company behind the issuance of usdt, the biggest dollar-pegged stablecoin in the cryptocurrency mar
Ceffu (Formerly Binance Custody) to be Custodian of Flynt Finance for Enhanced Asset Security and Off-Exchange Settlement
Ceffu (Formerly Binance Custody) to be Custodian of Flynt Finance for Enhanced Asset Security and Off-Exchange Settlement press release PRESS RELEASE.Flynt Finance, a cryptocurrency
Aethir, MetaGravity partnership boosts scalable DePIN gaming development
Josh O"Sullivan10 hours agoAethir, MetaGravity partnership boosts scalable DePIN gaming developmentThe partnership aims to simplify and scale gaming development using DePIN technology, enhancing accessibility and efficie
Ethereum’s Beacon Network Deals With a 7-Block Chain Reorganization
Ethereum’s Beacon Network Deals With a 7-Block Chain Reorganization On May 25, seven blocks were reorganized on Ethereum’s Beacon chain at 8:55:23 a.m. (UTC) at block heig
Bank of Russia to Monitor Banks’ Dealings With Crypto Exchangers
Bank of Russia to Monitor Banks’ Dealings With Crypto Exchangers The Central Bank of Russia has started to examine the operations of Russian banks with cryptocurrency exchangers,
The Bitcoin Cash Halving Countdown – 50% Less Block Reward in 4 Days
The Bitcoin Cash Halving Countdown - 50% Less Block Reward in 4 Days The Bitcoin Cash (BCH) network will face a halving in four days and many BCH proponents are getting ready for
Bitcoin’s daily transactions reach new record high
Zoltan Vardai11 hours agoBitcoin’s daily transactions reach new record highThe Bitcoin network surpassed 926,000 daily transactions, driven by a growing interest in Runes.2997 Total views8 Total sharesNewsOwn this piec
Leading Supermarket Chain in Croatia Introduces Crypto Payments
Leading Supermarket Chain in Croatia Introduces Crypto Payments Customers of the largest supermarket chain in Croatia will be able to pay with cryptocurrency for their orders in th