11.9 C
New York
Tuesday, May 14, 2024
HomeAI
AIPerspectives

BitPay is having some BitTrouble….

By Ilene
1
327
psw-placeholder
psw-placeholder

 

It looks as if one of the world's best-funded bitcoin companies is running into trouble

By  at Business Insider

The bitcoin payment processing company BitPay is scaling back its business.

The industry news site CoinDesk reports that BitPay has cut about 20 positions, just a day after it scrapped its "free and unlimited" bitcoin processing offer for new merchants.

In an email sent to its staff and seen by CoinDesk, BitPay CEO Stephen Pair said the decision to cut staffing number was necessary to "reduce costs" and "better align with the pace of growth" in the industry.

Does this signal major problems with the Bitcoin business model? While people use Bitcoin, the acceptance of it as a main payment method appears to be stalling. 

 

1 COMMENT

Subscribe
Notify of
1 Comment
Inline Feedbacks
View all comments

Stay Connected

157,225FansLike
396,312FollowersFollow
2,300SubscribersSubscribe

Latest Articles

Load more

Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Contact us: support@philstockworld.com

© Copyright - PSW, LLC.

2024
1
0
Would love your thoughts, please comment.x
()
x