About a year ago, Bitcoin recorded the worst sales in history, with prices reaching $3.800.
A year later, Bitcoin had soared by more than 1.200% and reached all-time highs, above $60.000, reaching the $1 trillion market capitalisation.
Cryptocurrencies and blockchain technology continue to innovate in the industry and we will see their adoption by many different sectors inside and outside technology in the future.
Reasons why the price of Bitcoin is increasing lately
The reason why we see the highest numbers of all time in 2021 is not due to its security or its decentralised character, offering people both privacy and security.
Juggernaut BNY Mellon says digital currencies are the future
BNY Mellon manages about $2 trillion in digital currency management. They recently publicised that they will be receiving Bitcoin and other cryptocurrencies on behalf of their customers. BNY Mellon is developing a secure digital storage and multi-asset management platform for cryptocurrencies and money. The initiative came after increased demand from customers looking for an economical way out of cryptocurrencies and blockchain technologies.
Elon Musk’s Tesla invests $1.5 billion in Bitcoin
In January, Tesla revealed in a file to the SEC that they had bought $1.5 billion worth of Bitcoin. The reason behind this investment is that the American manufacturer of electric vehicles will start accepting Bitcoin as payment for their products. They want to offer more flexibility and maximise the efficiency of their stocks. Late last year, Musk had already specified that Tesla will add Bitcoin to its balance sheets in the near future.
Visa will operate in the future with Bitcoin and blockchain
Visa was the most powerful enemy of Bitcoin and the encryption industry in general.
Instead of fighting the digital switchover, Visa has become one of Bitcoin’s biggest fans. It is already working with over 30 cryptocurrencies and plans to launch a Visa crypto software program in 2021. The goal is to make cryptos more accessible to their existing banking customers.
It remains unknown where the price of Bitcoin will be at the end of 2021. Right now, the price has fallen below $60.000 once again. What is certain is that the price of Bitcoin will not stabilise soon.
We can confidently say that cryptocurrencies and the blockchain space will continue to rise in areas of our lives where technology can improve our online habits.