MORE FROM FORBES Bitcoin Is Braced For A Huge $4 Billion Price Earthquake This WeekThe latest bitcoin price boom has resulted in renewed interest in bitcoin from Wall Street and ... [+] Silicon Valley--including from Elon Musk, the billionaire chief executive of Tesla. Wood also revealed that big companies are asking her whether it's a good idea to put large sums of cash into bitcoin or other cryptocurrencies. In December, Tesla chief executive Elon Musk, who's long flirted with bitcoin and cryptocurrencies, asked MicroStrategy CEO Michael Saylor about adding bitcoin to corporate balance sheets via Twitter—sparking wild speculation Musk could move Tesla reserves to bitcoin. Elsewhere, Square, the payments company led by bitcoin advocate and Twitter TWTR chief executive Jack Dorsey, bought $50 million worth of bitcoin in October. MORE FROM FORBES After Huge Bitcoin Price Rally, Here's What Billionaire Mark Cuban Thinks Is Next For Bitcoin And CryptoArk researchers found the bitcoin price could soar if major U.S. companies replaced some of the cash ... [+] on their balance sheets with bitcoin.

Source: Forbes January 27, 2021 00:33 UTC