LionTree, a popular financial advisor and investment banking firm, is exploring the use of cryptocurrencies as a payment system.
A Wall Street financial advisor who worked on Amazon’s acquisition of MGM studios this year is investigating crypto payment options.
LionTree, a popular financial advisor and investment banking firm, is exploring the use of cryptocurrencies as a payment system. Chairman and CEO Aryeh Bourkoff talks about the possibilities of crypto for individuals in his year-end letter, and explores some of the biggest trends in the industry, including decentralized finance (DeFi) and nonfungible tokens (NFTs).
“In the year 2021, cryptocurrency became unavoidable with a market cap often surpassing $3 trillion,” wrote Bourkoff, who explained that this was because people with more cash than usual were seeking protection from inflation and higher returns and ensure higher yields.
A crypto payment option will also be explored by Bourkoff for services in the near future:
“We’re currently exploring ways to start accepting crypto as payment for our services, and in the not-so-distant future, as our ecosystem grows and our relationships continue to mature, we might even create our own LionTree token of trust.”
Bourkoff praised the crypto market in 2021 for some of its achievements, but he also pointed out that it still has flaws and hurdles to overcome. According to him, technology needs to become more energy-efficient, and the goal should be to create more user-friendly interfaces.
Although LionTree is a relatively small firm in terms of size, it has been involved in some of the biggest partnerships and acquisitions in the media sector this year. Among its accomplishments, LionTree facilitated WarnerMedia’s merger with Discovery Inc., helped Amazon acquire MGM Studios, and advised Snap Inc. on its IPO.