With asset management companies like MicroStrategy and Stone Ridge Holdings buying up Bitcoin, could mainstream corporate adoption of cryptocurrencies be next?
Cryptocurrencies promise a number of benefits to treasury:
- Decoupling from government-backed fiat currencies
- Low-cost transactions due to the avoidance of hefty bank fees
- Real-time or near real-time transactions
- Reduced fraud, as by nature cryptocurrency is almost impossible to counterfeit or spend twice
- Transaction privacy (or transparency) to minimize risk while accommodating auditability
But is cryptocurrency ready for corporate prime-time? In this post, we take a look at the reasons why cryptocurrencies — and Bitcoin in particular — are gaining in popularity right now.