LionTree explores accepting cryptocurrency for services
Arie Burkoff, chairman and CEO of LionTree, a banker who advised some of the largest media mergers in 2021, said on Wednesday that he is exploring methods of accepting bitcoin as payment for services, which is strong support for the nascent digital currency. Source: Mike McGregor
Arie Burkoff, chairman and CEO of LionTree, cited the example of a group of individuals who pooled $ 40 million in ether cryptocurrency to try to auction a private copy of the U.S. Constitution and donate it to a museum.
Burkov wrote in an annual letter in which he outlined his financial projections for the next year:
“I like this story not only because I agree that the original US Constitution should be available to all Americans. But because it embodies the potential of the new economy: cutting-edge technology at the service of communities that can act according to their shared vision, not only for entertainment purposes, but in ways that create lasting value. ”
According to LionTree CEO, Bitcoin is capable of fulfilling the Internet’s promise to empower people. But there are hurdles to overcome first, he noted, such as creating user-friendly platforms and user interfaces to expand its appeal beyond the demographic of predominantly male, tech-savvy early adopters.
He believes the technology should become more energy efficient, noting that a single transaction using Ethereum technology consumes as much electricity as the average US home in a week. Regulators will need to respond to currencies that are clearly advertised as a substitute for government issued cash.
“Globally, countries will have to balance regulation and innovation and weigh their desire to attract a new generation of entrepreneurs with their drive to control 14 with centralized currencies,”
LionTree was involved in some of the most significant media deals of the year, including advising AT&T Inc on WarnerMedia’s proposed merger with Discovery Inc, directing MGM in the $ 8.45 billion sale to Amazon.com Inc, and advising ViacomCBS on the sale of Simon for $ 2.175 billion. dollars. And Shuster.