Bitcoin
$ 53,162
Ethereum
$ 3,916.7
XRP
$ 1.310

Bitcoin is entering the fourth wave of adoption, according to one analyst

Source:

Bitcoin adoption is increasing day by day, and its presence on various media is significantly increasing.

Yesterday, there was a rise in the price of bitcoin by more than 19% after “Elon Musk”, the richest man in the world, mentioned the currency and included it in his biography description box on Twitter.

Then the currency retreated after the lack of media momentum surrounding it, as the price of the currency is estimated at 34 thousand dollars at the time of writing this article.

Reactions to the rapid rise of Bitcoin varied between supporters and opponents, between a supporter who benefited from the currency fluctuation, and an opponent who cited high volatility and that it was not suitable as a hedge investment asset.

From another angle and from the perspective of Mr. Marshall Heiner, CEO of “Metal Pay” that provides payment solutions in cryptocurrency, Bitcoin has entered the fourth wave of adoption.

Marshall Heiner pointed out that the currency had reached an all-time high during the past few months, and with it came the institutions that added bitcoin to their balance sheet.

Heiner said he believes that the popularity of Bitcoin and the fact that it is the oldest and most liquid digital currency is pushing companies to view the currency as a hedge against dollar and euro inflation.

He went on to explain:

This is what I call the fourth wave of Bitcoin adoption.

The first three waves were:

Abundance, speculation, benefit, and finally acceptance and adoption.

Since last year, many different institutions and companies have accepted Bitcoin.

The list includes “Galaxy Digital”, “Paypal”, “Marathon Patent Group”, “Ruffer”, “Square” and others.

As for “MicroStrategy”, it has become the largest owner of Bitcoin with more than 70,780 Bitcoins in its treasury.

Marshall Heiner believes that, like corporate investors, the National Digital Banks of the Office of the Comptroller of the Currency (OCC) in the United States are reaching “collective acceptance” and “understanding” of Bitcoin.

In July of last year, the Office of the Comptroller of the Currency “OCC” gave the green light to national banks to hold digital currencies.

Heiner shared his forecasts on Bitcoin, noting the benefit around other cryptocurrencies, and said:

I expect Bitcoin and small-cap cryptocurrencies to totally blow some minds in 2021.

In addition, I expect some major benefits especially in terms of stable currencies, NFTs, innovative decentralized lending and trading models, oracles, and payment systems.

Related Posts