Online payments giant, PayPal enabling account holders to use cryptocurrency has led several Central Banks to give a closer look to the global application of fiat vs. cash. The discussions about whether BTC should be seen as a form of money, commodity or asset continues to stay around.
Those investors who have an interest in diversifying their portfolio with exotic asset types are now taking to Bitcoin. There is no denying that bad actors are also taking to BTC to use it for their scamming attempts.
Year 2020 saw Bitcoin climbing to the best price points. On Wednesday, December 16, 2020, the crypto touched upon an all-time high of $20,800 and it was last up 6.4% at $20,675. The economic landscape about Bitcoin has changed and the public perception about BTC has shifted and the network is set to be maturing further.
Considering its capability to provide quick gains, and the expectation that Bitcoin will provide resistance to inflation more numbers of buyers are getting attracted towards it.
Thus, the BTC prices are encouraging to current miners to help them expand their operations to capitalize on the wider profit margins. It is only practical for new miners to take advantage of lucrative mining conditions.
Commenting on Bitcoin, Sydney Ifergan, the crypto expert tweeted: “Bitcoin is the template that has already kicked in a transformational event in the global financial infrastructure by opening up an alternative payment mechanism, restoring power of value to people.”
Bitcoin (BTC) Transacting Value
Bitcoin is a collaborative effort, which is bringing together the whole of mankind transacting value for their needs. Some of them call it a truth network and they point to how it rewards their honesty and punishes cheating.
Bitcoin is gaining wide recognition. There are individuals and organizations who are doing the job of emotional labor in terms of helping new college kids to become Bitcoin Devs. Bitcoin is a promise and millennial investors are able to sense the spark.
It is becoming very reasonable for institutions to buy Bitcoin. Everyone are beginning to see the same version of truth. Increasing numbers of companies are investing in cryptocurrency. The FOMO is catching up and they are likely to buy BTC due to the popularity of it and they are beginning to consider it as a great investment for their future. The current growth of Bitcoin is set to spread long term and adoption will keep it sustaining. The pattern in the charts is clear evidence that everyone are beginning to believe in it.
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