Bitcoin’s price hit $49,803 on Saturday afternoon, the highest it has reached since March 5, 2021. After trading between $30,000 and $40,000 for several weeks, bitcoin is nearing the key $50,000 level as it continues to climb back toward high points seen earlier this year. As I write this post, the entire crypto market cap is over $2 trillion. In 2021 Bitcoin’s price is up 57%, Ether’s has risen 400%, and Dogecoin has soared 13,000%.
Ilias Louis Hatzis is the founder and CEO at Kryptonio wallet. Please participate in our Crypto Wallet Survey, we could use your help. It’s 7 simple multiple-choice questions about crypto wallets and you should be done in 60 seconds. The survey is completely anonymous.
Digital assets are an idea whose time has come and there is no stopping it, regardless of countries like China imposing bans, VIPs like Elon Musk criticizing it for not being “green” enough, or governments putting in place strict regulations.
The integration of bitcoin into financial institutions has already started in countries such as El Salvador, and this is just the beginning. Crypto has hit an inflection point, with 14% of the US population investing in cryptocurrency and global crypto adoption rising some 881% in the past 12 months.
Factors pushing crypto’s comeback
Retail investors have more access than ever through platforms like Revolut, Robinhood, Coinbase, Square, Venmo, and exchanges that offer crypto trading.
Institutional investors like banks, hedge funds, and corporations have been investing in bitcoin, some even see it as a hedge against inflation. In March, Tesla said its bitcoin investment was worth $2.5B. MassMutual Life Insurance invested $100M in bitcoin. Paul Tudor Jones has turned into a bitcoin believer, instilling confidence in retail and institutional investors alike. Morgan Stanley and Goldman Sachs provide wealth management clients exposure to bitcoin. The European Investment Bank just issued $120M worth of bonds on the Ethereum network.
VIPs like Elon Musk, Jack Dorsey, Lil Yachty, and Jake Paul have promoted Bitcoin and altcoins. Crypto converts are dominating social media, from Twitter to Clubhouse and Reddit.
Expanded uses of crypto and blockchain technology are fueling excitement. Paypal is letting users shop at 26 million merchants with crypto. There’s also growing excitement about crypto applications, blockchain, decentralized finance, and NFTs that have gone ballistic.
Crypto’s most significant hurdle is regulation
People’s interest in crypto has skyrocketed this year and so has the interest by regulators. Lawmakers in the US and across the world are trying to figure out how to establish laws and guidelines to make cryptocurrency safer for investors and less appealing to cybercriminals. Yet, in a single country like the US, federal agencies and states, don’t have a clear or consistent approach. The SEC, FTC, IRS, and FinCEN all have different opinions about what cryptocurrency is and how to go about regulating it. Clear and fair regulation is important because it would remove a significant roadblock for cryptocurrency and drive even more people to the market.
Crypto payments
Cryptos are moving along the e-commerce path, with Paypal, Starbucks, and America’s largest movie theatre chain AMC all accepting digital coins. Even super-expensive football player Lionel Messi will be partly paid in digital currency as part of his mega-deal with Paris Saint-Germain. Now if the rumors about Amazon prepping to accept bitcoin hold true, I would go as far as to say bitcoin is mainstream.
In the past, the idea of cryptocurrencies like Bitcoin was alien. However, Satoshi Nakamoto introduced Bitcoin, and its acceptance and adoption kept spreading. As of August 2021, there are more than 4 500 cryptocurrencies, up from just a handful in 2013. So much energy and development work is being poured into crypto and blockchain. The growing market and uses of bitcoin and crypto just show that their mainstream acceptance is almost inevitable.
The genie is out of the bottle.
Crypto is all about freedom. People around the world want to take charge of their financial destinies. Decentralized cryptocurrencies are the vehicle to bring billions of people around the world closer to their dreams of financial freedom.
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Bitcoin’s value hit $49,803 on Saturday afternoon, the very best it has reached since March 5, 2021. After buying and selling between $30,000 and $40,000 for a number of weeks, bitcoin is nearing the important thing $50,000 degree because it continues to climb again towards excessive factors seen earlier this 12 months. As I write this publish, the whole crypto market cap is over $2 trillion. In 2021 Bitcoin’s value is up 57%, Ether’s has risen 400%, and Dogecoin has soared 13,000%.
Ilias Louis Hatzis is the founder and CEO at Kryptonio pockets. Please take part in our Crypto Pockets Survey, we might use your assist. It’s 7 easy multiple-choice questions on crypto wallets and you have to be carried out in 60 seconds. The survey is totally nameless.
Digital property are an concept whose time has come and there’s no stopping it, no matter nations like China imposing bans, VIPs like Elon Musk criticizing it for not being “inexperienced” sufficient, or governments setting up strict laws.
The mixing of bitcoin into monetary establishments has already began in nations comparable to El Salvador, and that is just the start. Crypto has hit an inflection level, with 14% of the US inhabitants investing in cryptocurrency and world crypto adoption rising some 881% prior to now 12 months.
Elements pushing crypto’s comeback
Retail traders have extra entry than ever via platforms like Revolut, Robinhood, Coinbase, Sq., Venmo, and exchanges that provide crypto buying and selling.
Institutional traders like banks, hedge funds, and companies have been investing in bitcoin, some even see it as a hedge in opposition to inflation. In March, Tesla stated its bitcoin funding was price $2.5B. MassMutual Life Insurance coverage invested $100M in bitcoin. Paul Tudor Jones has became a bitcoin believer, instilling confidence in retail and institutional traders alike. Morgan Stanley and Goldman Sachs present wealth administration purchasers publicity to bitcoin. The European Funding Financial institution simply issued $120M price of bonds on the Ethereum community.
VIPs like Elon Musk, Jack Dorsey, Lil Yachty, and Jake Paul have promoted Bitcoin and altcoins. Crypto converts are dominating social media, from Twitter to Clubhouse and Reddit.
Expanded makes use of of crypto and blockchain know-how are fueling pleasure. Paypal is letting customers store at 26 million retailers with crypto. There’s additionally rising pleasure about crypto functions, blockchain, decentralized finance, and NFTs which have gone ballistic.
Crypto’s most important hurdle is regulation
Folks’s curiosity in crypto has skyrocketed this 12 months and so has the curiosity by regulators. Lawmakers within the US and internationally are attempting to determine methods to set up legal guidelines and tips to make cryptocurrency safer for traders and fewer interesting to cybercriminals. But, in a single nation just like the US, federal companies and states, don’t have a transparent or constant method. The SEC, FTC, IRS, and FinCEN all have totally different opinions about what cryptocurrency is and methods to go about regulating it. Clear and truthful regulation is vital as a result of it will take away a big roadblock for cryptocurrency and drive much more folks to the market.
Crypto funds
Cryptos are shifting alongside the e-commerce path, with Paypal, Starbucks, and America’s largest film theatre chain AMC all accepting digital cash. Even super-expensive soccer participant Lionel Messi might be partly paid in digital foreign money as a part of his mega-deal with Paris Saint-Germain. Now if the rumors about Amazon prepping to just accept bitcoin maintain true, I’d go so far as to say bitcoin is mainstream.
Prior to now, the concept of cryptocurrencies like Bitcoin was alien. Nevertheless, Satoshi Nakamoto launched Bitcoin, and its acceptance and adoption stored spreading. As of August 2021, there are greater than 4 500 cryptocurrencies, up from only a handful in 2013. A lot power and growth work is being poured into crypto and blockchain. The rising market and makes use of of bitcoin and crypto simply present that their mainstream acceptance is sort of inevitable.
The genie is out of the bottle.
Crypto is all about freedom. Folks all over the world need to take cost of their monetary destinies. Decentralized cryptocurrencies are the car to deliver billions of individuals all over the world nearer to their desires of economic freedom.
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