{"id":37115,"date":"2021-02-26T21:55:47","date_gmt":"2021-02-26T19:55:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37115"},"modified":"2025-08-29T09:52:39","modified_gmt":"2025-08-29T06:52:39","slug":"mastercard-says-bitcoin-is-ill-suited-for-payments","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mastercard-says-bitcoin-is-ill-suited-for-payments\/","title":{"rendered":"Mastercard says bitcoin is ill-suited for payments"},"content":{"rendered":"

Bitcoin does not behave like a payment instrument \u2014 it is highly volatile and a transaction takes too long, said Mastercard Executive Chairman Ann Cairns in an interview with MarketWatch<\/a>.<\/p>\n

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“If we go out for coffee and I decide to pay with bitcoin, our drink could cost me, for example, 40% more by the time it is served. And the actual completion of the transaction would take 10 minutes,” said Cairns.<\/p>\n<\/blockquote>\n

As an asset class, bitcoin can be compared to gold, but not as a means of payment.<\/p>\n

Mastercard intends to roll out stablecoins in its network and is working<\/a> with central banks on their plans for digital currencies (CBDCs).<\/p>\n

Earlier Mastercard exited the Diem project, the global stablecoin (then Libra), developed with the participation of Facebook.<\/p>\n

Volatility has been cited as a barrier to institutional investment in bitcoin by institutions, for example, at JPMorgan<\/a>, Berkshire Hathaway<\/a> or Bridgewater Associates<\/a>.<\/p>\n

However, Fundstrat Global Advisors’ head of research Tom Lee recently said that 40-50% corrections are “part of the DNA of the first cryptocurrency.”<\/p>\n

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#bitcoin<\/a> prone to corrections of 40%-50%<\/p>\n

\u2014 part of its DNA and its history
\n\u2014 doesn\u2019t change fair value per @David_Grid<\/a> network value model#bitcoin<\/a> target $100,000
\n\u2014 looks on sale, right?$SI<\/a> $MOGO<\/a> $MSTR<\/a><\/p>\n

\u2014 Thomas Lee (@fundstrat) February 23, 2021<\/a><\/p>\n<\/blockquote>\n