Intercom Founder Announces Support for Bitcoin!
Eoghan McCabe, co-founder of software company Intercom, said he jumped on the “bitcoin wagon.” In a tweet he posted, McCabe encouraged others to do the same.
In recent months, the perception of Bitcoin as a store of value and a measure against inflation has been strengthening. The $ 425 million Bitcoin purchase announced by MicroStrategy in October ignited an institutional craze around BTC.Since then, Twitter CEO’s company Square has publicly invested in Bitcoin, and Stanley Druckenmiller has adopted BTC as a way to avoid inflation.
Why is bitcoin appetite starting to increase?
There are several main reasons behind the noticeable increase in appetite for Bitcoin over the past few months, reports Joseph Young, who writes on CryptoSlate. The first is that Bitcoin dropped to $ 3,600 with the March crash and quickly regained the amount it lost; showed its survivability. Big investment banks like JPMorgan said BTC has “lasting power
Second, it underperforms against other reserve currencies such as the US dollar, Swiss franc, and Japanese yen. In particular, following the Central Bank’s average inflation policy, investors started looking for more ways to avoid inflation.
Third, the infrastructure around Bitcoin is improving, with significant trading activity seen in CME, Bakkt and Grayscale.The combination of all these factors made Bitcoin more attractive to institutions. That’s why on-the-chain analysts have said that “smart money” rather than mainstream is behind the ongoing rally.
“I WOULD LIKE TO ANNOUNCE THAT AS A RESULT OF MY YEARS OF INTEREST I JUMPED ON THE #BITCOIN WAGON AND NOW I RECOMMEND EVERYONE DO THE SAME.”
McCabe also personally responded to questions about whether Intercom will accept Bitcoin in the near future. He said that for large companies, the process is more complex than acting quickly on a founder’s idea:
“UNFORTUNATELY, THE LAWS OF PHYSICS OF LARGE CORPORATIONS INDICATE THAT THERE ARE YEARS BETWEEN A FOUNDER THINKING SOMETHING WAS A GOOD IDEA AND THE POINT WHERE HIS COMPANY ACTED ON THAT IDEA. BUT I DON’T THINK BITCOIN IS RIGHT FOR US YET. “