WeWork to Now Accept and Hold Bitcoin: A Potential Turning Point?

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Earlier this week, WeWork announced that it would begin accepting payments in cryptocurrencies. In a move following Tesla and MicroStrategy, the commercial real estate start up stated that it would begin holding Bitcoin on its balance sheet — another sign of Bitcoin’s growing institutional acceptance. WeWork said that it will accept Bitcoin, Ethereum, and USD Coin, among several other cryptocurrencies as a payment for its services. Like Tesla, the company will run its own nodes — retaining its crypto rather than converting it to fiat. Coinbase, alongside crypto merchant Bitpay, has partnered with WeWork to facilitate its cryptocurrency transactions. The U.S. crypto exchange giant is also the very first WeWork member to pay for its membership in cryptocurrency. In the press release, WeWork Chairman Marcelo Claure had this to say about the company’s recent venture into cryptocurrencies: “When we think about the workplace of the future and business, we have…

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