Yes, cryptocurrency has a great future in the future.
Many large companies have started to adopt it in various ways. Mainstream institutional adoption has already started. PayPal payment processor has already allowed its users in the US to buy Bitcoin and other cryptocurrencies. Recently, they have also allowed the users to transfer their bought cryptos to external, third-party wallets. Visa And Mastercard have also endorsed the use of Bitcoin and are helping in broader cryptocurrency adoption.
Tesla had allowed its users to use Bitcoin to pay for buying their electric cars. Though they have revoked this decision due to environmental concerns, Elon Musk has said that the company will revert to accepting BTCs once Bitcoin mining starts using energy-efficient and green-energy electricity. In fact, Tesla has invested US$1.5 billion in Bitcoin. Microstrategy’s CEO Michael Saylor has endorsed Bitcoin publicly, and his company is the front runner in BTC accumulation in the company’s balance sheets.
Many companies have started paying their employees in Bitcoin and other cryptos because it will help to:
Cut the banks (the intermediary) from all transactions, thereby expediting the transaction process and also will also decrease/do away with the transaction fees.
Make payment to employees in different countries in a single denominator, say Bitcoin, rather than converting your US Dollars into dozens of international currencies to pay your employees.
Crowdfunding and raising capital will become easier with cryptocurrencies. As everything is recorded publicly, cryptocurrencies will offer more transparency in the entire process of raising capital.
As crypto coins can be transferred instantly, cryptos will become the most popular mode of payment in the business world and peer-to-peer.
These are some reasons and factors why people claim that cryptocurrency is the future.
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