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How Can Bitcoin Help Companies In Digital Transformation?

By May 25, 2021March 22nd, 20222 minute read

CNBC-TV18 in conversation with Michael Saylor

Several wall street banks have considered including crypto in their balance sheets and also as a payment mechanism. Some investment companies took a route to digitally transform their balance sheets while transforming their profit and loss accounts. For this, buying a scarce asset like Bitcoin was a preferable breakthrough for many. Multiple investors chose digital money that’s appreciating at a rapid rate over analog money yielding zero!

Michael Saylor believes that Bitcoin is a trusted network that allows every application on the earth’s surface to transfer value to another. In episode 9 of ‘Digital Assets Of The Future – Crypto‘ he has elaborated on Bitcoin and how it can help companies in digital transformation.

In this episode, you can get answers to questions like:

  • How soon will Bitcoin or Cryptocurrencies be used to pay salaries to employees or other expenses?
  • Can fiat currencies, stable coins, CBDCs, and Cryptocurrencies co-exist?
  • What could be the pricing of Bitcoin and Cryptocurrencies over the next few years?
  • How are regulators looking at the idea of embracing Bitcoin and other Cryptocurrencies?
  • Can Blockchain technology and Cryptocurrencies be studied individually?

Bitcoin has been deemed a property by the IRS, SEC, and other regulators on the global front. Parity and clarity from others will help differentiate currency from an asset, property from security, and much more. Bitcoin as a protocol has the potential to build the 21st-century cyber economy. If leveraged well, an egalitarian empowering technology can be expected. This will progress the human race and spread prosperity to everyone.

Pro tip: If you are considering making/receiving payments in Bitcoin or any other Cryptocurrency, do evaluate the taxation aspect as well.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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