In recent years, the encryption industry has developed rapidly, and hot topics such as NFT, Metaverse, and Web3 have become the most concerned issues for executives of industry giants. Today we take stock of the views of some of the most powerful executives in the industry.
Billionaire Elon Musk, CEO of SpaceX and Tesla, frequently tweets about different cryptocurrencies, and some of Musk’s actions seem to investors as a “tide of the times” A signal that affects the price fluctuations of some virtual coins.
Last year Tesla decided to hold some of the company’s cash in bitcoin because it was a better asset than cash. Musk said: “The interest rate of fiat currency is negative, and only a fool would stare at fiat currency.”
Tesla also briefly accepted bitcoin for payments, but then stopped due to concerns about the cryptocurrency’s environmental impact. Musk said that once the proportion of renewable energy in the bitcoin mining process increases by 50%, the company will accept bitcoin payments again.
In 2021, after Musk posted a photo of his Shiba Inu puppy on Twitter, the price of an altcoin called Shib jumped 10,000 times, once becoming the top ten cryptocurrencies by market capitalization. In past remarks, Musk clarified that he does not own any Shiba Inu coins, he only owns Bitcoin, Ethereum and Dogecoin.
Tesla bought $1.5 billion in bitcoin early last year at a price of around $35,000. This is not only a radical investment attempt, but also an important endorsement of Bitcoin. Tesla said the company believes in the long-term potential of digital assets as an investment and a liquid alternative to cash. As with any investment, companies can increase or decrease their digital asset holdings at any time based on business needs and perceptions of market and environmental conditions.But digital assets can be subject to market price fluctuations, which can be detrimental to the company. Tesla will continue to adjust its investment strategy to meet the company’s liquidity and risk objectives.
More and more companies are willing to accept cryptocurrencies as payment methods. Dara Khosrowshahi, CEO of online car-hailing giant Uber, told the media some time ago that Uber will support cryptocurrency payments when the time is more mature.
The company discussed the idea of buying bitcoin with corporate cash, but it was “quickly dismissed.” He stressed, “We will keep our cash safe. We are not in the speculative business. Our strength is in the business that has been established, not in our investment projects.”
“Is Uber going to accept cryptocurrencies in the future? Of course, one day it will,” Khosrowshahi said. “As long as transaction fees get lower and mining gets greener, I think you’ll see us leaning more toward cryptocurrencies. .”
In an online interview, current Apple CEO Tim Cook responded: “We’re working on it, but it’s not something we plan to do right away.”
In the process of sharing the event, Tim Cook mentioned that he has been interested in cryptocurrencies for some time, and has been researching this emerging field. From an investment perspective, asset diversification management, and risk diversification models, It makes sense to own some cryptocurrency.
However, these cryptocurrencies are all purchased and invested by Cook in his personal capacity and personal assets, and have nothing to do with Apple, and he will not provide anyone with investment advice on cryptocurrencies: In addition, Cook also said that Apple has no plans in a short time. Accept cryptocurrency transactions for products.
Nvidia (Nvidia) once supported the cryptocurrency “mining”, and the stock price of the chip maker fell. Nvidia’s founder, president and CEO Jensen Huang has always been very supportive of the development of the encryption industry. Huang Renxun believes that the cryptocurrency It’s no longer a concept waiting to be proven, it’s legal, it’s built, it works well, and many people rely on it. Huang Renxun said that Ethereum is very valuable and it can speed up transactions.
When the concept of the Metaverse exploded in 2021, Nvidia launched Omniverse, a real-time simulation and collaboration platform for enterprises, a virtual work platform known as the “Metaverse of engineers.” Introduce it as the world’s first 3D simulation and collaboration platform based on NVIDIA RTX, which integrates physical and virtual worlds, simulates reality in real time and has realistic details, whether it is an artist or artificial intelligence, can use different in different worlds. tools to create a whole new world together.
His personal avatar displayed by Lao Huang
NVIDIA is the world’s largest AI chip manufacturer. By building a “three-core” strategy of “GPU+CPU+DPU”, NVIDIA has built the underlying technology of the Metaverse, and further improved its own competitiveness.
Huang Renxun believes that through the Metaverse Enterprise, it can reduce a lot of cost waste in reality, and save huge expenses while bringing a lot of profits to himself. This is one of the reasons why he is optimistic about the Metaverse. The factory hopes to invest a small amount of money to buy this kind of Intelligent systems, they can save tens of billions of dollars in costs through simulation. From the old yuppie’s point of view, what Lao Huang said is very true, the Metaverse is virtual, but making money is real.
The global spread of the pandemic has seen a surge in online payments as well, with Dan Schulman, CEO of online payments giant PayPal, expressing his thoughts on cryptocurrencies and blockchain technology and what they can do for the financial system. Schulman said at last year’s earnings call that Americans still rely on outdated systems to move money between bank accounts, and that digital wallets could greatly improve the efficiency of the government’s stimulus checks.
‘I think everyone’s initial thinking about cryptocurrencies, buying and selling and what the price of bitcoin will be tomorrow, to me, is the least interesting part of digital currency,’ Schulman said. That is to think of digital currency as an asset class. To me, what’s really exciting about digital currencies is what kind of utility they can provide in terms of payments. Mr. Schulman noted the worldwide trend of central banks seeking to issue digital currencies (CBDCs), he commented. The intersection between CBDCs, stablecoins, digital wallets, and payment utility enhanced by cryptocurrencies is not only fascinating, but I think will redefine much of the financial world of the future.
PayPal’s crypto features allow customers to buy or sell bitcoin, bitcoin cash, ethereum or litecoin for as little as £1. Users can also track the price of cryptocurrencies in real-time and find relevant information on the market. PayPal’s “Checkout with Crypto” function allows users to choose to pay with Bitcoin, Ethereum, etc. PayPal will automatically convert it into US dollars and complete the transaction without additional gas fees or other handling fees. If the merchant does not accept U.S. dollars, PayPal will also convert those U.S. dollars into local currency at the standard exchange rate it sets.
“As the use of digital payments and digital currencies accelerates, the launch of ‘Checkout with Crypto’ will continue to drive our focus on mainstream adoption of cryptocurrencies, while continuing to provide PayPal customers with more choice and flexibility to pay with PayPal Wallets do it all.” Schulman also noted, “Making cryptocurrencies available for purchase among businesses around the world is the next chapter in driving digital currency adoption and acceptance.”
In January, Airbnb CEO Brian Chesky did a Twitter poll asking users to choose which features they would like Airbnb to roll out in 2022, and among 4,000 responses he received supported cryptocurrency as payment The method bears the brunt of the options.
Chesky also includes various token-related ideas in the “Cryptocurrency Payments” suggestion category. This option ranks ahead of guest loyalty programs and clear pricing displays, showing that Airbnb users are in high demand for cryptocurrency payments.
While Chesky did not specify whether his company plans to accept cryptocurrency payments, he announced that Airbnb is “already working on” most of the proposals in the tweet.
This is not the first time Chesky has spoken to the public about cryptocurrencies. In an interview with Fox Business last September, he said he had seen a lot of requests for cryptocurrency payments over the years. Coinbase CEO Brian Armstrong, a former Airbnb employee, said he was proud of Coinbase’s success.
Alphabet and Google CEO Sundar Pichai said he does not own any cryptocurrency, adding that he wishes he had. “I’ve dabbled in cryptocurrencies, in and out,” said Sundar Pichai.
Interestingly, Pichai told an anecdote in 2018 that he was educated by his son for not understanding Ethereum. His 11-year-old son is mining at home. “I had dinner with my son last week, and I was talking about bitcoin, and my son clarified that I was talking about ethereum, which is slightly different,” Pichai exclaimed. “He is 11 years old. . He told me he was mining it.”
Today, Google has already taken action in the field of virtual reality and augmented reality. Pichai said: It is clear that computing technology will be more human-centric in the future, and the interaction between humans and computers will no longer be limited to computer screens, but will be more interactive. Sexual, more immersive, and always there when needed. Personally, Pichai is bullish on the future of immersive computing, ambient computing and AR.
“I’m always excited about the future of immersive computing, but it doesn’t belong to any one company. This is the evolutionary trend of the Internet.” Pichai said: “I think the Metaverse may use AR technology to improve the immersion of computing, And it will open up a variety of immersive and interactive virtual experiences.”
Satya Nadella, chairman and CEO of Microsoft, was outspoken about her interest in the Metaverse at the 2021 Sequoia Digital Technology Global Leaders Summit.
Nadella coined the futuristic term “enterprise Metaverse” at Inspire, a global partner conference, “as new technologies emerge and innovate, we’re seeing some dramatic changes in the way people work.” He said last year In what was probably the most revolutionary term in Satya Nadella’s keynote. It refers to the collection of infrastructure stacks that arise as the digital and physical worlds converge. It is a combination of digital twin, Internet of Things (IoT) and mixed reality. Help enterprise customers realize the integration of the digital world and the real world through Microsoft HoloLens, Mesh, Azure Cloud, Azure Digital Twins, etc.
Speaking this year, he said that gaming is the most dynamic and exciting entertainment category of any platform today and will play a key role in the development of the Metaverse platform. We’re making deep investments in world-class content, communities, and the cloud to usher in a new era of gaming that puts players and creators first, and makes games safe, inclusive, and accessible to all.
Mastercard CEO Michael Miebach has always had a positive outlook for the cryptocurrency industry.
Speaking at Mastercard’s earnings call last July, Miebach said, “What we believe we are doing is bringing a multi-track payment provider perspective to the market. We have to get into this space because people are looking for answers.” When it comes to testing and launching central bank digital currencies or stablecoins, Mastercard is striving to be the go-to choice for governments and private entities alike. Mastercard has been very aggressive in keeping up with innovations in digital currencies, in part due to competition with its rival Visa.
During the third-quarter earnings call, Miebach announced that Mastercard is gearing up for a global launch of a digital form of fiat currency, citing the company’s intellectual property and years of experience creating patents in the cryptocurrency space, Think these efforts may pay off in years to come.
Miebach made the most ambitious point: “We would say that the most likely opportunity for this technology to be used for payments right now is through government issuance in the form of a CBDC. We’ve discussed this on several previous conference calls. Having said that, we also said that when the government is ready to launch a CBDC, along with the dollar or the euro as a settlement currency in our network, we will prepare our network.”
Miebach remains confident in Mastercard’s role in decentralization, saying: “We can provide a safe area for governments and private banks to figure out how exactly this works.”
Morgan Stanley CEO James Gorman has a respectful attitude towards cryptocurrencies. “I don’t think cryptocurrency is going to be a flash in the pan, it’s not going to just go away, I don’t know what Bitcoin should be worth. But these things are not going to end, and the blockchain technology behind it is obviously very real and powerful. “
“Bitcoin is a speculative asset. But it’s not going to replace a reserve currency, that’s not going to happen. My advice is not to put more than 1% of your net worth,” he said.
In June 2021, Goldman Sachs CEO David M. Solomon said in an interview with the media that Goldman Sachs “absolutely” wants to catch up with the blockchain wave.
Late last year, Solomon said in a speech that he is not a fan of cryptocurrencies but admires the technology behind them.He expressed his admiration for the blockchain, the technology behind Bitcoin being more important than Bitcoin.
“I don’t think bitcoin is really the point, it’s how blockchain and other untapped technologies can speed up the digitization of the way financial services are provided,” he said. Solomon thinks there may be new changes in regulation.
With the increasing adoption of cryptocurrencies around the world, banks increasingly believe that it is necessary to put aside the accusation of “centralization” first. They choose to launch digital asset investment assets or call for supervision, for fear of missing the opportunity , FOMO sentiment is also high.
In an interview with Bloomberg, Walt Bettinger, CEO of financial services giant Charles Schwab, said cryptocurrencies are “hard to ignore” and that they are “pretty important” in today’s world.
“If this is a good opportunity from a regulatory standpoint, we would welcome it. For a company like Schwab, there is a huge gap in this space today. The transaction costs of crypto transactions are abnormally high, The price difference is very high,” Bettinger said. He further stated that “there is a huge void in crypto right now for a company like Schwab.” Bettinger also noted that the transaction costs of cryptocurrencies and their spreads are “abnormally high.”
Buffett really fragrant scene
Let’s look back from now on. In April 2018, Warren Buffett talked about encrypted digital currency in an interview. He believes that Bitcoin or other encrypted digital currencies will not generate any substantial value. Investing in them is a speculative behavior. Investors buy Jin just hopes that the next pick-up man can pay more money. This is a kind of gambling, not an investment.
In 2020, Justin Sun had dinner with Buffett in an attempt to change Buffett’s attitude towards cryptocurrencies and gave Buffett some cryptocurrencies. But Buffett’s attitude remains unchanged. Cryptocurrencies are basically worthless, Buffett said, they don’t produce anything. Not only does he have no Bitcoin, but he does not own any cryptocurrency. Buffett is not optimistic about Bitcoin.
As we all know, Buffett is a staunch Bitcoin opponent and hates Bitcoin to the extreme. And recently, there is a piece of news that can be called “face-slap” – Buffett “indirectly” invested in cryptocurrencies.
In June 2021, Warren Buffett’s Berkshire Hathaway announced that it has invested $500 million in Nubank, a Brazilian digital bank. While Nubank acquired brokerage firm Easyvest, the two financial firms plan to join forces to offer clients bitcoin ETF investment services.
Nubank is a neo-bank that operates differently from the traditional banking system, not entirely relying on brick-and-mortar branches, but focusing primarily on digital services. NuInvest, the digital bank’s investment arm, allows users to put money into bitcoin exchange-traded funds (ETFs).
In February, Berkshire Hathaway filed a filing with the U.S. Securities and Exchange Commission, disclosing its investments in cryptocurrencies. The documents show that Buffett’s company has purchased $1 billion in Nubank stock.
Although this move by its subsidiary does not fully represent the change in Buffett’s own investment concept, it can actually be regarded as a shift in the investment industry moving closer to cryptocurrencies to a certain extent.
Every change does not happen overnight. Just like today, I took stock of the views of the CEOs of so many world-renowned companies. Their speeches and actions not only represent themselves, but also represent the influence of the global economic development. From the company’s point of view, the speed of well-known companies’ marching into the blockchain is accelerating, and the development prospects of the encrypted world are promising.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/about-the-crypto-industry-what-the-worlds-most-powerful-ceos-have-to-say/
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