• Tue. Oct 3rd, 2023

General Motors might be Planning to Start Accepting Bitcoin as Payment for their Products

Hassan Mehmood

ByHassan Mehmood

Jun 18, 2021

General Motors CEO Mary Barra was recently invited for an interview at CNBC. When asked about the possibility of her company offering Bitcoin payment options, Barra responded that there are no reservations on the part of the company leadership to start the service. 

She further added that it is all up to the consumers. If the consumers of the company wish to lean forward in the direction of Bitcoin payment, it could happen.

Barra also remarked that the main concern of the car manufacturing company is to ensure that their consumers have the best possible options for acquiring ownership rights. In February, Barra told media that GM was deliberating on the matter of Bitcoin as Tesla added 1.5 billion into the flagship cryptocurrency. The company wishes to be added to the Electric Vehicle lineup by 2035. At that point in the future, the company would only be producing EVs. If Tesla takes up more stakes in Bitcoin, it might prompt General Motors to follow suit.

VanEck is a fund management enterprise that has filed for a Bitcoin ETF in March. Up until this point, SEC has been turning away from the matter and has remarked that the chances of an ETF in the United States are slim. However, the deadline for deciding on the VanEck application is approaching on June 17. Therefore, the regulatory agency has opened up a web portal and email address to collect valuable public feedback.

Any parties who wish to submit their point of view on the matter would have 21 days. Meanwhile, those who want to send a counter remark would be able to do so within 35 days after publication by the federal registrar. The commission has asked the public to share their stance on the flagship crypto project’s sustainability, liquidity, and transparency. These steps are in line with the policy of the federal agency to protect the interest of the investors.

Venture Capital Firm CEO Claims that Fear and Panic in the Crypto Market is Near Over

Dan Morehead is the CEO of Pantera Capital. Speaking on the market sentiment for Bitcoin, he remarked that the FUD and panic have drained out of crypto markets almost entirely. Referring to the year-to-year return index, he claimed that Bitcoin prices are far from being qualified as overpriced. He argued that in the 2021 YoY for flagship cryptocurrency is about 281%. If the massive amount of money supply is taken into consideration, it does not seem unnatural.

Morehead also commented on the matter of the Bitcoin deviation chart during the last 11 years. He said that looking at the big picture, it can be seen that current trading volumes are 36% lower. As per his opinion, the Tax Day cycle allows investors to have a seven-day period that is enough time to take their money from exchanges to banks. However, with Bitcoin, the Tax downticks only lasted for two days.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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