Bitcoin Lost Only 13% Value While Netflix, Paypal and Facebook Stock Lost Over 40% In A Year

Bitcoin Lost Only 13% Value While Netflix, Paypal and Facebook Stock Lost Over 40% In A Year

Will Clemente, the lead insights analyst at Blockware Solutions, showed that Bitcoin has the best financial performance among many giants like Shopify, Netflix and Facebook. On April 20, Netflix stock fell 35.1%, recording its worst day since 2004.

The billionaire investor William Ackman, whose fund purchased more than three million shares of Netflix in January, announced on Wednesday that the firm had liquidated its stake at a loss. Mr Ackman stated in a letter to investors that Netflix will cut Pershing Square’s returns by four percentage points. This leads to a $400 million loss.

Following the year to date performance, Bitcoin only lost 13% of its value, meanwhile, Netflix, Paypal and Facebook lost 60%, 50% and 40%, respectively.

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Strike CEO Jack Mallers stated that his company has teamed with three of the world’s leading payment providers to enable Bitcoin payments at stores across the United States at Bitcoin 2022. His company, Strike, is a global payments network that uses Lightning Network. The connection, he continued, removes traditional banks from the payment process, saving retailers money and providing shoppers with privacy.

“You’re gonna be able to walk into a grocery store, to Whole Foods, to a Chipotle, if you want to use a Lightning node over Tor, you do that,” Mallers said on stage at Bitcoin 2022. “Any online merchant that uses Shopify can accept payments without the 1949 boomer [credit card] network, receive it instantly, cash final, no intermediary, no 3% fee.”

According to Mallers’ announcement, McDonald’s, Walmart, Circle K and more U.S. franchises as places where the Strike integration will be useable. All brands that accept Bitcoin payment through these new partnerships revealed by Mallers at Bitcoin 2022 are listed in the pic below.

“I’ve been working with Senator Cynthia Lummis to make sure that in the United States of America we support this open payment standard and it isn’t threatened by anybody else,” Mallers also stated that he is committed to protecting Bitcoin innovation in the US.

On Wednesday, Bitcoin surged to $42,108 after plunging to $38k.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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