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Table 15 Qualitative assessment of cryptocurrency corporate exposure for announcements of indirect investments and acceptance as means of payment

From: Store of value or speculative investment? Market reaction to corporate announcements of cryptocurrency acquisition

Company

Announcement date

Degree of Cryptocurrency Exposure

News' Headline

BlackRock, Inc

04/aug./2022

3

BlackRock partners with Coinbase to expand into crypto

Overstock.com, Inc

09/jan./2014

3

Overstock.com First Online Retailer to Accept Bitcoin

Visa Inc

29/mar./2021

3

EXCLUSIVE Visa moves to allow payment settlements using cryptocurrency

AT&T Inc

23/may/2019

3

U.S. Telecoms Giant AT&T Now Accepting Crypto Payments via BitPay

Microsoft Corporation

11/dec./2014

3

Microsoft begins accepting Bitcoin

JPMorgan Chase & Co

27/oct./2020

3

JPMorgan Chase (JPM) has started using its digital currency for commercial transactions

MercadoLibre_2

20/jan./2022

3

MercadoLibre Doubles Down on Crypto With Two Purchases

PayPal Holdings, Inc

30/mar./2021

2

PayPal Launches "Checkout with Crypto"

Newegg Commerce, Inc

01/jul./2014

2

Newegg is Now Accepting Bitcoin

Rakuten Group, Inc

16/mar./2015

2

Rakuten Starts Accepting Bitcoin

Chipotle Mexican Grill, Inc

01/jun./2022

2

Chipotle Now Accepts Cryptocurrency as Payment

FRMO Corporation

18/aug./2016

2

Investment in grayscale

Méliuz S.A

30/jul./2021

2

Méliuz anuncia contrato para compra da negociadora de criptomoedas Alter Pagamentos por R$ 25

Oracle Corporation

23/oct./2018

2

Oracle Unveils Business-Ready Blockchain Applications

Restaurant Brands International Inc

06/jan./2020

2

Burger King starts accepting Bitcoin payments

Xiaomi Corporation

05/aug./2021

1

Xiaomi's Portuguese outlet now accepts Bitcoin

Starbucks Corporation

01/apr./2021

1

Starbucks Now Accepts Bitcoin as Payment (Kind of…)

BMW (Bayerische Motoren Werke Aktiengesellschaft)

05/jul./2018

1

Stephen James is now accepting Bitcoin for the purchase of your new BMW!

Mastercard Incorporated

10/feb./2021

1

Why Mastercard is bringing crypto onto its network

AMC Entertainment Holdings, Inc

10/aug./2021

1

Memestock AMC now plans to accept Bitcoin

  1. This table reports the assessment of corporate cryptocurrency exposure for indirect cryptocurrency investments (e.g., crypto-related partnerships and acquisitions) and announcements of cryptocurrency acceptance as means of payment. Degree of Cryptocurrency Exposure is a categorical variable that equals 3 if the qualitative assessment of the news' content indicates a high exposure (effective, direct acceptance of cryptocurrency as means of payment by industry pioneers and worldwide, economically relevant M&A or partnerships), 2 for medium exposure, and 1 for low exposure (just plans to accept cryptocurrency, not actual acceptance; global companies that started accepting cryptocurrency only in a single country or store; and indirect or partial acceptance of crypto as means of payment, such as gift cards