Cryptocurrencies are the future and this fact has been known by people for some time now. Big companies like Samsung, Apple, Tesla, IBM, Microsoft, and many others are investing in Crypto. And it does not involve investing in just some popular coins or tokens. These giants have been investing their money in developing and evolving the technology on their own.
Generally, it is the big guys that are scared to put their money in such volatile assets, like cryptocurrencies. As their investments are not limited to a few thousand dollars, they invest in millions and billions. But for the past few years, all these giants have accepted this technology. As proven by the large investments they are making in the crypto markets and their development.
The real deal started when the largest crypto influencer, who is also the CEO of the world’s largest electric car company “Elon Musk” tweeted that Tesla will accept payments for the purchase of its cars in Bitcoins. This move by Elon Muck ignited a huge rally in the crypto space. And the coins scaled to new lifetime highs. But then he took back his statement within three months, stating about the environmental issues associated with the mining of Bitcoins. And with that statement followed the crash in the Crypto Markets. Also, Tesla had invested 1.5 Billion USD in Bitcoins in February. And Elon is still optimistic about cryptocurrencies and influences the crypto markets to a great deal.
Samsung is one of the world’s largest electronic conglomerates. It has been making investments in various blockchain gaming companies like Sky Mavis, Dapper Labs, Animoca Brands, etc. for the past few years. Samsung also unveiled in its latest 5G Enabled S10 Series, Bitcoin, Crypto, and Blockchain supportive features. Samsung introduced built-in Private Wallets for storing Private Keys of its users Crypto Wallets securely. This move by Samsung only proves how significant it considers Cryptocurrency. And with Samsung’s own Private Key Wallet on its device, many other Private Wallet Service providers will be eliminated from the market.
Samsung’s latest investment was in Axie Infinity, a very popular online game. Developed by Sky Mavis, Axie Infinity is a play-to-earn kind of game. Samsung’s spokesperson Kim had said, Its investment was simply for the ROI potential.
PayPal is an American-multinational FinTech Company. It has more than 286 Million Users as of Q2 2019, on its platform. Pay Pal is the first major FinTech Company to facilitate the payments on its platform through Bitcoins. Its users can Buy, Sell, and Hold Bitcoins through its platform. Paypal has also approved payments to merchants in Bitcoins through PayPal itself. This move by PayPal was to increase its user base. As PayPal saw the people’s requirement and comfort in making direct payments in BTC.
IBM is another American multinational IT Corporation. It has been actively involved in Blockchain Technology for a long time. It has its own IBM Blockchain Platform backed by HyperLedger Fabric by Linux Foundation. IBM provides secure Blockchain services for sharing of confidential information between users. It is completely decentralized and secure for large enterprise data as well.
So, IBM’s interest in crypto and Blockchain technology is not limited to its investments in Crypto coins and tokens. It has formed its own Blockchain Platform, which has got more than 15,000 Engineers working on it. IBM has 32% of the total Blockchain Corporate market share.
Microsoft is engaging with the Blockchain Technology from all fronts. It has partnered with Ernst & Young to launch a Blockchain Royalty and content rights platform on the Xbox. Then Microsoft has collaborated with Accenture and Avanade for a Blockchain prototype that uses Microsoft Azure. Microsoft has achieved 19% of the Global Blockchain Corporate Market share, second only to IBM.
Companies like Microsoft and IBM do not directly invest in the currency, coin, or token. Instead, they act as the facilitators of the services for Blockchain networks.
The companies mentioned above are some of the world’s largest organizations. All of the companies mentioned above have been involved in cryptocurrencies. Either through direct investment in certain tokens/coins or by the development of the technology on their own. When such companies are ready to get in the game, with millions in investment. It doesn’t really matter whether or not people believe in the future of crypto. Because, in the end, cryptocurrencies will still hold value in the market. As the current market value of the total crypto market is more than 2.5 Trillion Dollars. And that is more than the GDP of certain large nations, like Canada, Russia, France, etc. Other than that, retail investors and many large Banks like JP Morgan and Goldman Sachs, are slowly shifting their focus towards Crypto.
Analysts and investment advisors are suggesting their clients to diversify their portfolio towards crypto as well. Such things can bring large money towards crypto, as this is not just an investment option, but also a payment mode for the general public and large enterprises.