Bitcoin’s value has been skyrocketing, setting five new records in the process. The cryptocurrency has once again proven its volatility, following a year of significant fluctuations and investor discomfort. The high peaks and low falls of Bitcoin’s price have been coupled with high market expectations, pushing its value to new heights.
Bitcoin’s drastic upsurge started following the adoption of the cryptocurrency by traditional finance houses. The adoption by PayPal and its announcement to allow personal account holders to buy, hold and sell Bitcoin from their PayPal accounts was a significant factor in the surge.
The addition of Bitcoin as a significant investment in their treasury by MicroStrategy, a business intelligence company, and Square, a major player in the merchant services industry, have also fueled the surge. This has led other investment management companies like Fidelity Investments to recognize Bitcoin as both a store of value and a legitimate asset class.
But while Bitcoin continues to make milestones, tech giant Google is contemplating a possible forced divestiture. This comes after the U.S. Department of Justice filed a lawsuit against Google, alleging that the tech firm has unlawfully maintained monopolies through anticompetitive and exclusionary practices in the search and search advertising markets. They used this to hinder potential competitors, thereby controlling a huge share of the market.
The forced divestiture would involve Google selling off parts of its business. However, it would be a quite complex procedure due to the interwoven nature of Google’s wide array of services. Forced divestiture could lead to a significant shift in the operational strategy of the company and subsequently, could affect its profitability.
In conclusion, as Bitcoin continues to break records in the market, Google is faced with decisions about possible divestitures in response to antitrust lawsuits. The landscape of tech continues to evolve, and these developments serve as proof of the continually shifting dynamics of this sector.