Each cryptocurrency market cycle has contributed to the surge of Bitcoin popularity, bringing the largest token in the world closer to a public that did not have any contact with digital assets. The past year brought with it numerous records price-wise since BTC topped near the $65,000 mark in April 2021. Such impressive performance is directly correlated with a growing demand for Bitcoin, reinforcing its continued acceptance in the financial industry.
Large companies are placing stakes in BTC
One of the most important developments has to do with the investments coming from the institutional side. Numerous public companies bought BTC and now hold some of their reserves in the largest cryptocurrency. The most prominent name is Tesla, given the car manufacturer revealed on February 8th, 2021 it had invested $1.5 billion in Bitcoin, according to an SEC filing.
Silvergate Capital, a banking institution focused on the digital assets industry, announced in January this year holdings worth $5 billion placed in crypto, most of them in Bitcoin. The Canadian fintech company Mogo had also allocated $1.5 million in December 2020 and plans to continue this year.
Microstrategy, Square, and Galaxy Holdings are other companies that currently own stakes in Bitcoin, confirming the interest in crypto is real and could continue to edge higher, if regulation won’t act as a threat, and if the public continues to embrace the benefits of the blockchain technology.
Brokerages starting to accept BTC as a funding option
Things are moving in the right direction when it comes to the retail brokerage sector, as well. The popular trading platform easyMarkets recently announced the µBTC account, a feature enabling customers to trade, deposit, or withdraw using Bitcoin funds, without having to make any conversion to fiat currencies.
Including negative balance protection, fixed spreads, no slippage via the easyMarkets platform and app, guaranteed stop loss & take profits, or availability via MT4 for experienced users, this type of trading account is a new concept for an online broker and should be an incentive for traders holding their funds in Bitcoin.
By creating a new trading account and selecting the Microbitcoin option as the base currency, traders using easyMarkets will be benefiting from the highest financial security, able to get involved in the market each time opportunities are arising across 200+ CFD instruments, ranging from shares, commodities, metals, currencies, and indices.
BTC – payment system accepted in many stores
Microsoft is one of the biggest tech companies in the world, which is accepting Bitcoin for use in its online Xbox Store since 2014. Starbucks is also accepting BTC payments for purchases, a piece of good news for its large customer base.
Overstock, Home Depot, Namecheap, Whole Foods, or NewEgg, are just a few of the largest brands that have embraced Bitcoin payments and the list continues to grow as time goes by. Bitcoin dominates the crypto industry by token valuation and market capitalization since it is the longest-running cryptocurrency.
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