About 2 years ago, when Jack Ma was asked what do you think about the future of Bitcoin? He replied Honestly, I am not a big fan of Bitcoin. But he stated that he pays special attention to the cashless society and blockchain technology.
Jack Ma stated that he is interested in understand what things or value BTC brings to the society. However, he stated, “Behind the Bitcoin, the technology itself, really very powerful.”
He stated that at Alibaba they are focusing to move the world to a cashless society. The society can make everybody equal. Make everybody to get inclusive to get the money they need, and making sure it is sustainable.
Sydney Ifergan, the crypto expert tweeted: “It just looks like Bitcoin (BTC) has given birth to a whole new world of cryptocurrency consisting of many Altcoins and use cases regardless of whether Tycoons like it or not.”
Reportedly, more than 50% of Bitcoin investors are of the belief that the price of the Bitcoin is set to appreciate. While there are many traditional investors trying to reinvent and justify the idea behind BTC; there is a well-established bullish bias for Bitcoin despite big financial giants expressing their apprehension about the master coin.
Bitcoin need not prove itself as a legitimate asset to traditional institutional investors because there is already a huge follower base for BTC and many of them are Bitcoin maximalists.
Bitcoin (BTC) Corporate Treasury Operations
There is a widespread pressure created by the pandemic forcing people to divert their attention towards investing in Bitcoin. Several macro factors are affecting the economic landscape. Lot of stuff like the financial stimulus by governments, geopolitical uncertainty, and several other factors are influencing the long-term value of fiat currencies. Bitcoin is getting consideration as one of the corporate treasury operations.
The expectation is that very soon Bitcoin might catch up as a corporate reserve asset. Several investors were curious about the character of Bitcoin and they are now beginning to realize that it has more influence than internet money. BTC is getting lot of consideration as being a valuable asset in providing for a reliable store of value.
The consolidation of the Bitcoin price is on the dice. Traders are trying to push the price to $12,000. The current economic backdrop and the weakening dollar is likely to accelerate the bullish momentum for BTC. It is time to have an eye on the market volatility.
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