The top tweets were chosen from influencers as tracked by GlobalData’s Influencer Platform, which is based on a scientific process that works on pre-defined parameters. Influencers are selected after a deep analysis of the influencer’s relevance, network strength, engagement, and leading discussions on new and emerging trends.
Top tweets on payments tech in Q4 2020
1. Vitalik Buterin’s tweet on PayPal supporting cryptocurrencies
Vitalik Buterin, co-founder of Ethereum, a blockchain platform, shared an article on PayPal being granted conditional Bitlicense by the New York State Department of Financial Services. The license will enable users to buy, sell and hold cryptocurrencies from their PayPal account. PayPal has partnered with Paxos, a chartered trust company, to provide cryptocurrency trading and custodial services.
PayPal users can also use cryptocurrencies such as bitcoin, Ethereum, bitcoin cash and Litecoin to make transactions at its 26 million merchants from 2021. Consumers will be able to convert their chosen cryptocurrency balance to fiat currency and pay merchants, who will not incur any additional costs.
PayPal customers will be able to use BTC, ETH and other cryptos to pay merchants.https://t.co/6qhkVuEyF4
Welcome to the @ethereum ecosystem, @PayPal!
— vitalik.eth (@VitalikButerin) October 21, 2020
Username: Vitalik Buterin
Twitter handle: @VitalikButerin
2. Adam Back’s tweet on growth in bitcoin market cap
Adam Back, co-founder and CEO of Blockstream, a bitcoin and blockchain technology company, shared an article on the market cap of bitcoin projected to reach more than $1tn within the next ten years, according to a major investor in Tesla.
The article noted that bitcoin posted strong growth, adding more than 40% to its price and increasing its market cap to roughly $200bn. Further, established investors are increasingly turning to bitcoin to make investments as a hedge against inflation brought about by increased government spending due to Covid-19.
Back noted this is a conservative estimate adding that bitcoin market cap could reach $1tn within the next two years.
Conservative. I'd say #bitcoin likely sees $1trillion market cap within 2years, probably sooner. $1trillion is about BTC $50k. https://t.co/LJeq53DXgM
— Adam Back (@adam3us) October 5, 2020
Username: Adam Back
Twitter handle: @adam3us
3. Max Keiser’s tweet on investment firm Jefferies purchasing bitcoin
Max Keiser, co-founder of Heisenberg Capital, a cryptocurrency venture capital fund, shared an article on investment firm Jefferies purchasing bitcoin instead of gold. Jefferies has $51bn in assets under management as of Q3 2020 and is converting some of its gold holdings in favour of US dollar-denominated pension funds.
The firm is planning to increase exposure to cryptocurrency in this portfolio. It is planning to allocate 45% in physical gold bullion, 30% in Asia ex-Japan equities, 20% in unhedged gold mining stocks and 5% in Bitcoin, the article added.
$51 Billion Global Investment Firm Jefferies Selling Gold for Bitcoin https://t.co/qWmNUAuApy
— Max Keiser (@maxkeiser) December 19, 2020
Username: Max Keiser
Twitter handle: @maxkeiser
4. Barry Silbert’s tweet on J.P. Morgan’s views on bitcoin
Barry Silbert, founder and CEO of Digital Currency Group, a venture capital company, shared an article on analysts at investment firm J.P. Morgan stating that bitcoin is emerging as a strong alternative to gold among millennials. The analysts project that bitcoin price may double or even triple if current trends continue.
PayPal’s decision to offer cryptocurrencies including bitcoin to its customers and Square’s decision to add $50m of bitcoin to its balance sheet were primary factors responsible for the projections made by the analysts. In the near term, the analysts note that bitcoin is vulnerable to profit taking but in the long-term the prospects for the cryptocurrency are better compared with gold.
For years J.P. Morgan was skeptical of Bitcoin. Now the bank’s analysts say its value could triple, challenge gold @FortuneMagazine @jeffjohnroberts https://t.co/oa45zgbltM
— Barry Silbert (@BarrySilbert) October 26, 2020
Username: Barry Silbert
Twitter handle: @BarrySilbert
5. Erik Voorhees’ tweet on Square investing $50m in bitcoin
Erik Voorhees, CEO of Shape Shift, a cryptocurrency platform, shared an article on $50m investment made by Square, a financial services company, in bitcoin. The investment accounts for 1% of Square’s total assets as of Q2 2020.
Square made the investment as it believes bitcoin has the potential become a prominent currency in the future and can enable the company to participate in a global monetary system. Although Square has invested from a product perspective in bitcoin, this is the first time the company is making a financial investment in the cryptocurrency.
Square Invests $50 Million in Bitcoin https://t.co/awaJ5ayoJr
— Erik Voorhees (@ErikVoorhees) October 8, 2020
Username: Erik Voorhees
Twitter handle: @ErikVoorhees