The central theses
- Mary Barra, CEO of General Motors, commented on Bitcoin.
- While GM doesn’t want to invest in Bitcoin, Barra implied that BTC could be accepted as a form of payment during a recent investor call.
- Ultimately, this depends on whether there is customer demand.
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Automotive giant General Motors is monitoring the potential of Bitcoin, according to its CEO, but it is not yet clear whether the company actually plans to accept the cryptocurrency.
GM monitors Bitcoin
Mary Barra, CEO of General Motors, recently stated that the company[doesn’t] I have plans to invest in bitcoin.
She continued, “This is something we will monitor and evaluate. If there is strong customer demand for it in the future, nothing will stop us from doing it.”
In context, the second half of Barra’s statement seems to suggest that the company is exploring Bitcoin’s potential as a means of payment.
Their answer was given to a question from Adam Jonas, a research analyst at Morgan Stanley, who stated that Bitcoin was “great for buying big tickets.”[s]“Like cars.
Jonas’ question was sparked by the fact that “a growing number of high profile companies, including a major competitor,” hold Bitcoin. He was likely referring to Tesla and its decision to invest $ 1.5 billion in Bitcoin and accept BTC as a form of payment.
General Motors and Blockchain
Barra concluded that she “takes [the] Very Serious Question “which suggests that General Motors is indeed monitoring Bitcoin’s potential and that this was not a straightforward answer.
This idea is supported by the previous efforts of General Motors. In addition to testing Bitcoin, General Motors has already filed numerous blockchain patents. It is also part of the MOBI blockchain coalition, which is made up of several other automakers.
Additionally, GM has invested in at least one blockchain company, Spring Labs, to demonstrate that it is familiar with blockchain technology.
At the time of writing, this author owned less than $ 75 in Bitcoin, Ethereum, and Altcoins.
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