GCash CEO and president Martha Sazon announced that the firm is looking at offering users the ability to buy, sell and store cryptocurrencies like Bitcoin (BTC) on its platform.
In a Monday interview with The Philippine Star, Sazon said that GCash is exploring cryptocurrency trading in order to keep up with financial innovation. “While we may be considered a disruptor now, it is important in this digital age that we should be mindful of all types of disruptions out there. It’s important to know what the trends are, whether locally and globally and crypto is part of that,” she said.
Sazon said that firm is looking at potential integration options and related partnerships, through which it could introduce crypto trading. “Just like in any introductions, you need a platform, a working business model, a partner, so as soon as those are satisfied, perhaps,” Sazon said.
Tesla CEO Elon Musk has brought more stress to the cryptocurrency markets by posting another series of cryptocurrency-related tweets on Thursday.
Bitcoin lost around $2,000 in a matter of hours after Musk took to Twitter to post about Bitcoin (BTC) again.
The Bitcoin price reacted immediately, dropping from around $38,700 to $37,500 in an hour. Bitcoin continued falling as Musk kept tweeting more cryptic posts in the thread including another breakup-themed tweet on falling crypto prices as well as a post on Dogecoin (DOGE).
Francis Suarez, the crypto-friendly mayor of the city of Miami, may have further cemented his status as a cryptocurrency proponent.
"I own #bitcoin and I own #ethereum," says @FrancisSuarez. "I haven't bought the dip yet but I'm planning to. I've just been too busy." pic.twitter.com/xdKpghIRR5 June 3, 2021
According to Suarez, he bought BTC and ETH immediately after the United States Senate passed the $1.9-trillion stimulus bill for further COVID-19 relief back in early March.
For Suarez, the passage of the bill made inflation an inevitability, stating, “I knew at that point that inflation was inevitable and that there had to be some sort of a hedge.”
This Daily Dose was brought to you by Cointelegraph.