General Electric Flaunts Crypto Payment Option Idea

With Bitcoin now assuming its position at the top of the chain in the financial ecosystem, a wide range of businesses are now looking to the digital asset. While some are investing heavily in the asset, others are making a case for adoption by introducing a payment option using the asset.

One such entity is General Electric, which has announced that it is still deliberating on adding the digital asset as a payment option on its platform. This statement came some weeks ago at the Q4 earnings call made by the firm’s CEO, Mary Berra. According to Berra, they might just be considering their crypto-savvy customers who want to pay for services using the leading digital asset.

GE will roll out Bitcoin payments if their customers want it

Even though Berra stressed that the company is not yet open to investing in the digital asset like others, they are still trying to monitor the digital asset. Giving a reassuring note to their customers and discussing with an official from Morgan Stanley, Berra said that if their clients clamor for the addition of the asset as a payment option, there was nothing they could do to stop that. This reply was necessitated after the official asked the CEO of her company were touting the idea of holding some of their funds in the digital asset like some entities.

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The official also went ahead to quiz her if they were considering the possibility of adding the digital asset as a means of payment due to the world going digital. Noticeably, most entities are now running to Bitcoin and are using the digital asset as a hedge against inflation. They include Microstrategy, Square, and the recent buy that was made by car making company Tesla.

Companies are now adopting crypto

Tesla’s case is quite iconic amongst investments, with the CEO of the firm, Elon Musk, a major Bitcoin proponent. After they huge buy in the digital asset, the CEO took to Twitter some weeks later to announce that all entities and individuals interested in paying for their purchase with Bitcoin would be afforded the opportunity.

With that, Tesla has leapfrogged other car-making companies to the first entity that would adopt such a payment method. Before now, various s entities have always mentioned that Tesla has been accepting Bitcoin for payments with a very popular event in 2013, seeing a man purchase a car with around 91.4 Bitcoins.

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According to details, as at when the man purchased the car, the model he bought was valued at $103.000. Despite Bitcoin growing ever-popular, other people are still skeptical about the digital asset. A typical case was the cry, but the CEO of Ark Investments where she cited the IRS tax regulations as reasons not to transact or invest in the digital asset.

Despite that, we have seen many companies show interest, with a recent publication showing that BNY Mellon, a bank in the USA, is looking frantically to crypto. While it looks like GM is still new to the crypto space, the company has been on the blockchain scene for a long time.

Adebayo Owotunse (Nigeria)

Adebayo Owotunse is a versatile writer who has written hundreds of crypto articles for dozens of agencies across the years. He is now also the newest addition to the Tokenhell writers team.

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