Nano Labs Accepts BTC: How It Affects Shares

The Chinese company Nano Labs, a manufacturer of mining microchips, has started accepting Bitcoin for its products. This decision was made to enhance the flexibility and security of cross-border payments. To avoid legal issues in China, where cryptocurrencies are banned for financial transactions, Nano Labs registered an account on the Coinbase exchange.

The BTC integration had a positive impact on Nano Labs' shares, which rose by 1.5% in a single day. However, this growth may also have been influenced by the overall bullish cryptocurrency market, where Bitcoin increased by 31% over the week. Shares of other crypto-related companies, such as MicroStrategy, rose by 46% in the last five days.