Institutional investors will not take mainstream Bitcoin – You will

Similar to 2017 and the popular cryptocurrency bull run, last year it created a fresh buzz in the world of crypto and Bitcoin (BTC) in particular. From always setting new highlights to making various news rounds and catching the attention of mainstream finance, the pandemic year was exciting for cryptocurrency enthusiasts and believers.

Related: Did Bitcoin prove itself a reliable store of value in 2020? Experts answer

One conversation that perhaps stands out in the middle of the buzz is the growing activity of institutional investors in crypto. Companies, financial advisers and organizations that mocked Bitcoin five years ago, or during the Silk Road saga, are now at the forefront of crypto investments. Notable finance big guns like JPMorgan and Goldman Sachs have reverted to their previous stances and are now ready to make a bet on the future of digital currency. With a market capitalization of over $ 600 billion, Bitcoin is rapidly rising ahead of gold as a popular hedge option over inflation.

Remember, Bitcoin was not just another asset offered as a hedge against inflation in Satoshi Bitcoins original white paper. However, the whole idea of ​​Bitcoin stemmed from the failed financial institutions and third parties and a possible solution that would be effective in daily life.

Of course, with all institutional investors and finance guns rocking into Bitcoin investment, Bitcoin’s popularity as an asset has become inevitable. However, here are some of the ideal, real-world applications that could challenge a failing fiat currency and drive Bitcoin into the mainstream.

Buy online

In the past, Bitcoin was mainly viewed as a way to bypass the government and engage in illegal activities. However, crypto adoption has continued to rise tremendously, and many more companies are now open to accepting Bitcoin or some other cryptocurrencies as payment for goods or services.

In 2014, using BitPay as its payment processor, Microsoft became one of the first technology companies to accept Bitcoin to buy digital goods. In October 2020, the popular American payments company PayPal announced that it would enable cryptocurrency as a funding source for purchases in 2021. With various fiat payment merchants now recognizing Bitcoin, it is increasingly likely that everyone will use Bitcoin enough soon at every corner. of the world.

Related: Will Paypal’s crypto integration bring crypto to the masses? Experts answer

Cross-border transactions and travel

If any lesson has been learned from last year and throughout the intermittent global pandemic, it is the growing need for digitization. Although there are many ways to send and receive money globally, cryptocurrencies are fast becoming a preferred option. Besides the fact that cryptocurrency is a global currency, factors including speed, convenience and lower transaction fees are pushing Bitcoin as the popular option for cross-border transactions.

Related: How has the COVID-19 pandemic affected the crypto space? Experts answer

Many countries that once banned Bitcoin are now exposed to it, and the mainstream media has been more than receptive in the past few months. Some companies already provide travel packages that allow tourists and travelers to book flights, hotels and transportation using cryptocurrency. Over time, many disadvantages of the foreign exchange market can popularize crypto travel before local currency or fiat.

Bitcoin ATMs

In fairness, the goal has always been to eliminate local currency but to create a world where Bitcoin is as relevant as any fiat currency. Bitcoin ATMs are, without a doubt, a huge part of this goal. Essentially, they allow anyone to buy Bitcoin with a credit card; with some Bitcoin ATMs, you can also sell Bitcoin for cash.

The number of Bitcoin ATMs worldwide exceeds 13,000 in 71 countries. While there is a long way to go with these ATMs, there has been an increasing trend each year with an average of one ATM now being added every hour. Without a doubt, Bitcoin ATM machines are a big part of the crypto revolution, and they’re just going to get better at work.

Collection

While cryptocurrencies are fast becoming part of our digital world, the underlying blockchain technology has also played a vital role in revolutionizing many industries. Supply chains, healthcare, and the food and car industries have benefited tremendously from this revolution over the last 10 years.

This article does not contain investment advice or recommendations. All investment and trading moves involve risk, and readers should conduct their own research when making a decision.

The views, thoughts and opinions expressed herein are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Andrey Sergeenkov is an independent researcher, analyst and author in the cryptocurrency niche. As a staunch supporter of blockchain technology and a decentralized world, he believes that the world is seeking such devolution in government, society and businesses.