Bitcoin is slowly being adopted

 Recent signals suggest that Bitcoin has gradually become more widely accepted within the traditional financial system.
As Bitcoin's total market cap surpassed $ 1 trillion over the weekend, many long term investors were probably delighted. The cryptocurrency has finally entered the mature stage, experts say.

Bitcoin price increases are still very fast. In December 2020, the new price surpassed 20,000 USD. Last week, each Bitcoin cost more than $ 56,000.

It is clear that investors' obsession with a form of high returns causes the price of Bitcoin to fluctuate. However, the price of the cryptocurrency also reflects that the market is slowly adopting it more, and the digital currency as a whole is maturing.

"I think the institutions that are entering this market speak a lot about cryptocurrency adoption," Greg King, CEO of Osprey Funds told CNN.

Bitcoin value 1
After more than 10 years, Bitcoin is slowly gaining acceptance by the financial markets.
King said that when Tesla, a company on the S&P 500 list, says it has invested $ 1.5 billion, that's a very noticeable signal. Not long after, the oldest bank in the US, BNY Mellon, opened a block of electronic assets to issue and hold Bitcoin. Mastercard also said it will directly support "certain cryptocurrencies" this year.

Even BlackRock, the world's largest asset management company, did not pass this opportunity.

"People are looking for ways to store valuable assets, so we have to look at cryptocurrencies," Rick Rieder, BlackRock's Chief Investment Officer, told CNBC.

Bitcoin is still the most valuable and highly valued cryptocurrency. However, Ether (ETH), the second largest cryptocurrency by market cap, is also slowly gaining acceptance.

The Chicago Mercantile Exchange, a major US derivative financial exchange, has been accepting derivatives trading with Ether since the beginning of February. This news has caused ETH prices to continue to rise sharply over the past time.

However, Mr. King argues that more adoption is needed before cryptocurrencies really become a popular choice.

"Compared to other forms of capital markets, cryptocurrencies are still in their infancy," said King.

Bitcoin value brother 2
Tesla caught the attention of accepting payments for electric cars in Bitcoin.
Despite being more accepted by more institutions, cryptocurrencies have generally remained in doubt. In the study published in early February, JPMorgan experts said that Bitcoin is just a "secondary dual" of the economy.

"Cryptocurrencies are still much more volatile than other asset markets," the study emphasizes. JPMorgan also points out that most cryptocurrency transactions are for-profit, not for buying real items.

Even so, the institution itself has admitted positive signals to the cryptocurrency market over the past month.

"The growth and demand for digital finance is a real transformation of the financial markets in the Covid-19 era, not the Bitcoin price rise. However, recent announcements from Tesla, BNY Mellon and Mastercard also confirmed investor interest in crypto payments, "the JPMorgan expert concluded.

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  1. Thank you for your information about Bitcoin, it seems to be an important area. Thank you for your help and thanks for this beautiful site

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