With the constant market volatility and the uncertainty that surrounds cryptocurrencies, it’s easy to doubt how long they are going to last. Other than these two factors, the other main factor that can spell the end of a coin is the emergence of a better version of the coin. This is proving to be a major threat to all existing coins but with all that said let us have a look at 2 reasons why Bitcoin is here to stay.
It hasn’t been all smooth sailing for Bitcoin since its inception and it might take a while before everyone accepts it has real value, but, since the start of the year, BTC has experienced significant adoption coming from the mainstream financial institutions. Recently, NASDAQ partnered with Gemini to ensure they use the exchange’s Bitcoin trading infrastructure.
2018 has also seen more Bitcoin products come up that target increasing the number of institutional investors in the market. Goldman Sachs and Coinbase are two companies that have made such moves with the sole aim of increasing the number of institutional investors.
OTC Bitcoin trading desks are also believed to be on the way. This will enable institutional investors to make significant buy and sell orders without impacting the market negatively. Mainstream adoption is one key reason why Bitcoin is here to stay.
Bitcoin is spearheading the Fintech revolution
With the tech market proving to be a real game-changer in the finance market, Bitcoin is at the forefront of this revolution. Recently, it was reported that Square App, a mobile phone app which allows users to transfer cash between each other and also supports Bitcoin transactions, is outgrowing PayPal’s Venmo. Fueling the app’s growth is Bitcoin and this is evident considering Square made $34 million BTC sales in Q1 of 2018.
BTC is also at the heart of Fintech growth in Africa where more remittance platforms are offering BTC products and this has resulted in making payments much easier.
It might take a while before the opinions of the likes of Warren Buffet, Bill Gates and Charli Munger change but with every passing day, we are seeing developments that suggest Bitcoin is here to stay.
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