Chinese microchip maker Nano Labs started taking payment for their products in bitcoins.
Nano Labs produces microchips for cryptocurrency mining devices. To improve the efficiency and security of cross-border money transfers, the company's management decided to use bitcoins as a means of payment. According to the company's representatives, digital assets have greater payment flexibility, apparently, than fiat currencies.
In China smoking use cryptocurrencies in any way that involves replacing fiat currency with digital assets. Accordingly, tokens and coins cannot be traded in the country, and financial institutions are not even allowed to store digital assets. To avoid legal troubles in China and receive the bitcoins sent as payment for the microchips, Nano Labs employees created an account on the American crypto exchange Coinbase.
The announcement of the BTC integration had a positive effect on the Nano Labs stock market, as it has risen by 1,5% over the past 6 hours. However, the company's share price growth can also be explained by the bullish rally that began in the digital asset market on November 31. Against the backdrop of the rapid increase in the value of Bitcoin, which has increased by 25% in a week, and other cryptocurrencies, the assets of many crypto companies have increased significantly in price. For example, the share price of MicroStrategy, which has invested almost $46 billion in BTC, has increased by XNUMX% over the past five days.
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