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Businesses are adopting cryptocurrency at a rapid pace. Tesla, the world’s most valuable automaker, purchased more than $1 billion worth of Bitcoin in February 2021, and according to CEO Elon Musk’s Twitter account, the company still holds most of it. Square, a leading digital payments processor, disclosed Securities and Exchange Commission filings that it has spent more than $200 million buying cryptocurrency. Even Lush, a cosmetics company, allows customers to buy its products with cryptocurrency on its website.
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