Inflation fears, social media speculation, and Chinese regulations have all contributed to a drop in the value of crypto equities during the last week. Bitcoin, the most widely used cryptocurrency, has lost more than 26% of its value in the last year. Tesla, Inc. and other major corporations have become positive on Bitcoin. Tesla halted Bitcoin payments at his company earlier this month, citing environmental concerns. The fintech world is bullish on bitcoin, headed by companies like Square, Inc. and PayPal Holdings, Inc. Square has more than $400 million in crypto assets under management. Brevan Howard, a $14 billion hedge fund, has declared that it will begin investing in cryptocurrencies. Renaissance Technologies, a £166 billion hedge fund, has also stated that it is looking into a similar venture. One of these is the transition from proof-of-work to proof-of-stake systems, which reduces the carbon footprint of currency mining. However, investors should be aware that there are further schemes in the works.
Here is Insider Monkey’s list of the top 10 companies bullish on Ethereum. MetLife, Inc. is a life insurance corporation based in New York. In the first three months of 2021, the corporation generated nearly $16.7 billion in sales. It is ranked ninth on the list of the top ten Etherum bulls. Mastercard Incorporated is a financial services firm situated in New York that was formed in 1966. In the ranking of the top 10 firms that are optimistic on Bitcoin, Mastercard is ranked ninth. According to sources, Mastercard invested in cryptocurrency firm ConsenSys last month. MKM Partners, an investment advisory firm, assigned Cisco Systems, Inc. a Buy rating and a $61 price target on May 13. Cisco stock had a 16 percent upside potential based on the goal. Following the ratings upgrade, the technology firm’s stock price increased by more than 1.7 percent. BP Plc is a British oil and gas company headquartered in London. It was formed in 1909. It is ranked sixth on the list of the top ten Bitcoin bulls. BP is the first big oil company to use blockchain technology to hedge its bets. BP is one of Barclays’ top picks in the European oil business. Accenture Plc is a consulting and processing services firm established in Ireland. It comes in sixth place in the ranking of the top ten Etherum bulls. The company has also put money into the Digital Dollar Project, which is working to develop a central bank digital currency. For more details, click 10 Biggest Companies and Hedge Funds Bullish on Ethereum.
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