Real-world applications and users, not institutional investors, will challenge the failing fiat currencies and increase Bitcoin adoption around the world.
Similar to 2017 and the popular cryptocurrency bull run, last year created a fresh buzz in the world of crypto and Bitcoin (BTC) particularly. From setting new all-time highs to making various news rounds and capturing mainstream finance’s attention, the pandemic year was exciting for cryptocurrency enthusiasts and believers.
Related: Did Bitcoin prove itself to be a reliable store of value in 2020? Experts answer
One conversation that perhaps stands out amid the buzz is institutional investors’ increasing activity in crypto. Companies, financial advisers and institutions that mocked Bitcoin five years ago, or during the Silk Road saga, are now at the forefront of crypto investments. Notable big guns in finance such as JPMorgan and Goldman Sachs have reneged on their previous stances and are now willing to make a bet on the future of digital currencies. With a market capitalization of over $600 billion, Bitcoin is quickly rising ahead of gold as a popular choice of hedge over inflation.
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