Lion Tree Is Thinking About Saying “Yes” to Crypto Payments

Please fol­low and like us:
Pin Share

Amer­i­can bank­ing and invest­ment firm Lion Tree has stat­ed that it is look­ing into accept­ing cryp­to as a means of pay­ment in the future.

Lion Tree Says It’s Looking into BTC Payments

The whole idea behind bit­coin and its many cryp­to coun­ter­parts was that they would even­tu­al­ly be used as spend­ing tools. They would ulti­mate­ly out­do the abil­i­ties of cred­it cards, fiat cur­ren­cies, and checks to serve as the means of buy­ing goods and ser­vices for every­day needs.

How­ev­er, this has been a rather slow jour­ney con­sid­er­ing how many times bit­coin and relat­ed alt­coins have shown them­selves to be vul­ner­a­ble to heavy price swings. As a result, many com­pa­nies have refused to accept cryp­to as a means of pay­ment, and to a degree, we can’t real­ly blame them.

Con­sid­er the fol­low­ing sce­nario: a per­son walks into a store and decides to buy $50 worth of mer­chan­dise with bit­coin. For one rea­son or anoth­er, the par­tic­i­pat­ing retail­er can­not change the BTC into fiat over the course of 24 hours, and with­in a day, the price of bit­coin falls. Thus, that $50 turns into $30. While the cus­tomer still gets to keep every­thing they bought, the store has lost prof­it. Is this a fair sit­u­a­tion? Many don’t think so, and bit­coin has got­ten some­thing of a bad rap in recent years with retail­ers and store operators.

The fact that a firm as big as Lion Tree is now con­sid­er­ing cryp­to pay­ments in the future will like­ly push dig­i­tal assets deep­er into main­stream ter­ri­to­ry. Chair­man and CEO Aryeh Bourkoff dis­cussed the sto­ry of Con­sti­tu­tion DAO using cryp­to to bid on a copy of the U.S. Con­sti­tu­tion. It was this inci­dent that real­ly got him excit­ed and con­sid­er­ing cryp­to seri­ous­ly for the first time.

He says:

I love this sto­ry not only because I agree that an orig­i­nal copy of the U.S. Con­sti­tu­tion should be acces­si­ble to all Amer­i­cans, but because it epit­o­mizes the poten­tial of the new econ­o­my: cut­ting-edge tech­nol­o­gy at the ser­vice of com­mu­ni­ties who can act upon their shared ideas not only recre­ation­al­ly, but in ways that cre­ate last­ing value.

Crypto Can Do a Lot for Consumers

Bourkoff is con­fi­dent that cryp­to can assist in the empow­er­ment of indi­vid­u­als and give them free­dom from stan­dard finan­cial insti­tu­tions and gov­ern­ment con­trol, though he believes there should be a bit of reg­u­la­tion in the mix to ensure traders remain safe. He comments:

Glob­al­ly, coun­tries will have to bal­ance reg­u­la­tion and inno­va­tion and weigh their desire to attract the next gen­er­a­tion of entre­pre­neurs against their urge for con­trol through cen­tral­ized currencies.

Lion Tree was involved in some of this year’s largest media trans­ac­tions. The com­pa­ny advised AT&T when it pro­posed a merg­er between Warn­er Media and Dis­cov­ery Inc. It also worked with MGM through its $8.45 bil­lion sale to Ama­zon, the largest retail­er in the world.

Tags: Bit­coin pay­ments, cryp­to, Lion Tree

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *