Bitcoin (BTC) seems to have regained media attention after rising 80% in two months. The Wall Street Journal, in its November 23 edition, discussed cryptocurrency adoption among institutional investors. The WSJ article appeared despite the fact that Bitcoin has recently fallen out of the mainstream media spotlight. According to the report, Bitcoin has recently found support from "Wall Street billionaires" Paul Tudor Jones and Stanley Druckenmiller, as well as other public figures, including a sports radio host. In addition to significant investment from Grayscale Investments, the WSJ also highlights growing demand from retail investors, who can now access cryptocurrencies through established financial services firms. The report notes that Bitcoin's Cash App volume from Square, in the third quarter of 2020, was $1.6 billion. For all of 2019, it was just $555 million. U.S.-based exchange ItBit also saw increases, mainly due to the execution of PayPal's crypto services. On the same day, PayPal CEO Dan Shulman said during an interview at CBDC that increasing Bitcoin adoption every day will make cryptocurrencies "more and more of a currency than an asset class. "As paper money slowly dissipates and disappears from use, central banks, especially on the retail side, will have to replace paper money with digital fiat currency." If you are interested in the topic of public companies and institutions investing in cryptocurrencies, we invite you to read our comprehensive article on the topic. In it, you will find a ranking of the top 7 public companies in terms of Bitcoin under management - both those that raise BTC on behalf of investors as funds and those that treat crypto as a reserve asset. You can always check the current exchange rate of Bitcoin and other cryptocurrencies at bitcoin.co.uk. Places where you can buy BTC and other cryptocurrencies include the BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags bitcoin btc Wall Street Journal
No comments:
Post a Comment