Although 2020 has been an important year for Bitcoin (BTC), 2021 has just begun full of wonderful surprises. On February 8, Bitcoin’s price jumped to almost $ 3,000 in a matter of minutes, then rose 20% in 24 hours – all due to the news that Tesla Elon Musk had awarded BTC from the $ 1.5 billion balance.
In the same week, the oldest bank in the United States, the Bank of New York Mellon, announced plans to store, exchange and issue bitcoins. Mastercard also plans to support cryptocurrency in 2021 for almost 1 billion users. SEC commissioner Hester Pierce, often referred to in the cryptocurrency community as the “mother of cryptocurrency,” stressed the urgent need to clarify regulations due to recent events in the field.
With PayPal, Tesla, Mastercard, BNY Mellon and others popping up in the crypto space, is it not clearer than ever that digital assets are now part of the mainstream? That their collective adoption has begun, and this is a question of the present, not the future?
Last year, Cointelegraph asked experts in the crypto and blockchain industry about their views on PayPal integration and mass dependence on cryptocurrencies, as well as the importance of 2020 in Bitcoin’s history. This time the question arises: What does Tesla’s recent $ 1.5 billion investment in Bitcoin mean for the cryptocurrency market in terms of financial markets, cryptocurrency adoption and branding, and for the industry as a whole?
Alex Tapscott, CEO, Ninepoint Partners:
“Tesla’s acquisition of Bitcoin has undoubtedly shaken the corner offices of every CFO and treasurer in America and beyond. One of the many benefits of Bitcoin is that it acts as digital gold, diversifies business ownership and minimizes currency risk. Every CFO should sharpen their pencils. Own balls to see if he should buy it and reach the end.
Although Tesla is not the first public company to buy bitcoin for its vaults, it is the most important of them all. How poetic it is that Elon Musk, an aviation entrepreneur, has pushed Bitcoin to flight speed in American companies!
Tesla’s decision comes after a series of high-profile announcements from large companies that are in line with the accelerated model for corporate and corporate adoption. Equally important to the Treasury award was Tesla’s decision to accept Bitcoin. It follows in the footsteps of many other major innovators such as PayPal, Visa and others who are building a fast track for mass adoption of Bitcoin, so that they can not only buy and sell bitcoins, but also integrate into their trading network. Towards the end of 2021, I predict that many other companies will not only own bitcoins, but also have a real Bitcoin strategy. ”
When Hongfei, Neos’ founder, founder and CEO, Onchain:
“This is a very promising sign of collective interest and its growing willingness to embrace the blockchain. Furthermore, it confirms that blockchain and bitcoin are here to stay in the future.
During 2020, more and more financial institutions will invest in bitcoin, and I am sure that the adoption of blockchain will accelerate as the global economic model shifts towards digitalisation and complete decentralization. Going forward, we must continue to promote effective standards throughout the industry, as well as expand integration to fully realize game-changing capabilities. ”
John Woo, President of Ava Labs:
Tesla’s $ 1.5 billion acquisition of Bitcoin not only continues the movement of listed companies buying cryptocurrencies, it could also be a watershed moment that establishes a specific allocation of digital assets as a cornerstone of a healthy and diverse treasury.
Regardless of industry, companies should follow the example of these early adopters, paving the way for future payment rods and financial infrastructure. This starts with Bitcoin and gradually expands to include projects that go beyond and focus on the programmable side of the smart assets of the ecosystem, as companies can find more uses than digital gold. ”
Joseph Lubben, founder of ConsenSys and co-founder of Ethereum:
“The adoption of Bitcoin and Ether by institutional investors and corporate coffers in recent months represents a watershed moment for the global economy – the first tangible signs of a paradigm shift in how global businesses and financial and economic systems are built. They are rebuilding on a new automated objective trust framework in time. In fact, is represented by Ethereum and Bitcoin networks.
Today, business economics departments are learning how to manage BTC and ETH tokens to preserve value, reduce transaction friction and increase efficiency.