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Mike Novogratz Explains Why Crypto Adoption Is Here Now As Bitcoin Hits $48,500

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Thu, 02/11/2021 - 13:56
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Yuri Molchan
Rigorous Bitcoin supporter Mike Novogratz has named a new major milestone for crypto adoption, while Bitcoin hits a new all-time high of $48,500
Mike Novogratz Explains Why Crypto Adoption Is Here Now As Bitcoin Hits $48,500
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Former asset manager at Goldman Sachs and founder of Galaxy Digital crypto bank, Mike Novogratz, has announced a major milestone for cryptocurrency adoption that has hardly been noticed among other positive news for crypto recently.

In particular, he has referred to Mastercard now enabling merchants to accept cryptocurrencies for payment.

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Image via Twitter

Mastercard permits crypto payments later in 2021

As reported by CoinDesk, Mastercard payments heavyweight has announced that it intends to enable merchants to receive payments in cryptocurrencies as 2021 rolls on. This is a first for this leading payments provider.

It has not yet disclosed which crypto coins in particular it wants to add support for.

Prior to this, Mastercard already partnered with the platforms Wire and Uphold to support limited transactions with crypto.

Related
Bitcoin Embraced by America’s Oldest Bank BNY Mellon

Chief economist at Tressis praises Mastercard embracing crypto

Daniel Lacalle, chief economist at the Tressis hedge fund, has taken to Twitter to mark the news about Mastercard embracing crypto as a major milestone for the entire industry and crypto adoption.

He tweeted:

It's happening.

Earlier, he had responded to Christine Lagarde's critical comments, in which she assumed that Bitcoin and crypto are used mainly for money laundering and other crime-related activities.

The head of the ECB stated that crypto needs regulation, and Lacalle assumed by this that Lagarde meant prohibition rather than approval and transparency.

Bitcoin soars to $48,500: another ATH

Meanwhile, the world's largest digital decentralized currency, Bitcoin, has surged to a new all-time high of $48,500.

Earlier today, Tesla CEO Elon Musk published one of his crypto-flirting tweets; this time the tweet was Lord-of-the-Rings themed.

In it, Musk referred to Bitcoin as "one coin to rule them all" and mentioned Frodo the hobbit as "the underdoge," obviously dropping a hint about his beloved Dogecoin.

After this tweet, and prompted by the Mastercard news, Bitcoin soared approximately $2,000 and ultimately gained momentum to reach the new all-time high.

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Image via TradingView
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.