#CryptoIntegration

From prohibition to investment: How Google is changing its attitude towards cryptocurrencies

Since the emergence of Bitcoin, Google has maintained a cautious - and sometimes skeptical - stance towards cryptocurrencies. In recent years, however, its approach has transformed, and strict advertising bans have given way to large-scale investments in cryptocurrency projects.

Google in the spotlight

This week, Google (parent company Alphabet) has made headlines for various cryptocurrency-related news. The first occurred on Wednesday when the price of Bitcoin surpassed $124,000, briefly making the leading digital asset one of the five largest assets in the world by market capitalization.

The next news referred to cryptocurrency wallets. Starting October 29, Google Play will change its policy regarding these products. To continue downloading them, custodial wallet providers will need to be licensed in more than 15 jurisdictions, including those in the U.S. and the EU. Non-custodial wallets, however, will not be affected.

But the most relevant news for this debate concerns the company's investments in "cryptocurrencies." Yesterday it was made public that Google had acquired a stake in the Bitcoin mining company TeraWulf, which plans to use its data centers for AI infrastructure.

TeraWulf's shares reacted with a strong surge of 43% to $7.82, its largest one-day increase since March 2022.

These recent events clearly show that Google's operations are now intertwined with the cryptocurrency sector, a stark contrast to its previously distant attitude towards the Bitcoin industry.