‘Single Dumbest Thing They Could Do’—‘SPAC King’ Issues Stark Visa And Mastercard Crypto Warning As The Price Of Bitcoin, Ethereum, BNB, XRP, Solana And Cardano Surge
Billy BambroughSenior Contributor
I write about how bitcoin, crypto and blockchain can change the world.

Visa V +1.2% and Mastercard MA +2%, two of the world's biggest payment processors, have come under pressure from bitcoin, ethereum and decentralized finance (DeFi) projects over the last year—with Tesla billionaire Elon Musk and others speculating dogecoin could "truly be the future currency of the internet."

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The bitcoin, ethereum and crypto price boom—pushing the combined crypto market to around $2 trillion from under $500 billion in just 18 months—has sparked a wave of blockchain-based development, including in high-tech ethereum rivals such as solana and cardano.

Now, Chamath Palihapitiya, a former Facebook executive who runs the venture capital fund Social Capital, has warned there's "a swarm of activity coming to dismantle" Visa and Mastercard.

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