Over a decade after its initial launch, Bitcoin (BTC) has become the number one cryptocurrency worldwide. Now imagining crypto without Bitcoin is neigh impossible. The whole industry sort of depends on the success of Bitcoin and each drop in its value directly reflects all other coins on the market.
Bitcoin is one of the rare cryptocurrencies that have managed to make a name for themselves on the international level. Some countries even accept it as legal tender. The most recent one being El Salvador, and countries like Ukraine attempting to become the next ones to join in on the market. But that is only one of the things that are happening in the Bitcoin world. What are the trends and where is BTC heading? What do you need to know about BTC going forward? Learn that and more in this article!
Companies Entering Switching To BTC
In 2021 Tesla announced that they will start accepting BTC as a valid method of purchase of their new cars. This in turn made some other companies consider doing the same for their products. This trend is likely to spread even further in 2021, 2022, and 2023. While Bitcoin is the most popular one, you can expect to see a lot of ETH and other coins getting accepted as well!
PayPal And Crypto
One of the biggest hindrances to cryptocurrencies like Bitcoin is the financial acceptance by big banks and payment services. PayPal, which is one of the biggest payment services on Earth has announced that it will allow users to buy and sell cryptocurrencies like Bitcoin straight from their platform.
This will enable millions of people to invest in crypto and buy and sell it easier than ever before. If this move proves fruitful for the company, we can expect a worldwide expansion in crypto trading to bigger banks as well.
There are some rumors spreading that MasterCard and Visa might join in on crypto as well!
Countries Accepting Crypto Into The Mainstream
While some countries like China have started cracking down on crypto and forbidding it from most of the public, other countries like El Salvador have embraced crypto completely. This acceptance trend is likely to spread further with the next country accepting Bitcoin as legal tender probably Being Ukraine. After that, there is no way to tell just how far crypto will spread and how all of it will influence its price in the long term.
Currency Of The Internet
This concept has been widely spread by some tech giant CEOs. The owner of Twitter has recently announced that he would love to help make Bitcoin the currency of the internet. Making online transactions easy and affordable compared to current solutions.
Of course, this is only a distant dream, and actually getting there will take some time and dedication on some of the biggest internet companies worldwide.