Market strategy and research provider, Fundstrat Global Advisors, has announced that it would start accepting bitcoin payment for content.
According to a statement issued by Fundstrat, the new feature will allow institutional investors, as well as financial advisors, high net worth individuals and other entities to use Bitcoin to purchase access to Fundstrat’s reports on different financial sectors.
Speaking on the development, Fundstrat’s co-founder and head of research Tom Lee said that accepting bitcoin on its platform would make payments “considerably simpler, faster and less expensive.”
In what the company claims is a first for research firms, Fundstrat says it would be accepting the Bitcoin via payment operator BitPay, which processed more than $1bn in Bitcoin payments in 2017.
On its part, BitPay has welcomed the development with its Chief Commercial Officer Sonny Singh, saying the addition of Bitcoin as a payment method for Fundstrat will enable a global client base from Asia, Africa, and Latin America that had been near impossible before to access the firm’s content.
Fundstrat is co-founded by Tom Lee, a Wall Street analyst and one of the most respected voices in the crypto space. With over 25 years of experience in equity research and Wall Street trading, Lee is a veteran of the financial markets. He was the Chief Equity Strategist of J.P. Morgan from 2007 to 2014. His expertise includes Market Strategy and Telecom Services.
Lee, famously predicted that bitcoin would trade for $25,000 by the end of the 2018, significantly above its December 2017 record high of $20,000. According to Lee, the blockchain technology is a “multidecade story” that is yet in the “early stages” of transformation.