Bitcoin (BTC) Adoption Intensifies: 100k Merchants And Organizations Accept Crypto
This year has been all about crypto and blockchain adoption. There have been a lot of moves been made towards the achievement of this amazing goal.
Bitcoin adoption, on the rise
Now, the digital asset management giant Grayscale said that the number of companies and non-profits that are accepting BTC around the world has just crossed 100,000.
The online publication the Daily Hodl reveals that the digital asset management Grayscale said that the number of companies and non-profits that are accepting BTC around the world has just crossed 100,000.
The firm revealed the figure as a part of its multi-million dollar campaign called drop Gold.
The company challenges gold proponents to name a store that you can walk into and pay using gold.
Bitcoin is the emerging future of finance
Grayscale, which has $2.6 billion in assets under management, also released an infographic that names Bitcoin as the emerging future of finance.
— Grayscale (@GrayscaleInvest) August 22, 2019
“Bitcoin is still in its infancy. Bitcoin is driving global growth in new ways, while also preserving the store-of-value qualities that provide inflation protection and make it investable,” according to the notes.
The report says,”Bitcoin is only a tiny fraction of the size of the markets it stands to disrupt, which reach well into the trillions of dollars.”
A key indicator shows future BTC surge
The GTI Vera Bands Indicator measures up and down trends in order to identify price patterns and this is pointing out a surge for BTC.
The previous four times that BTC fell like this below the band, a rally followed.
According to Bloomberg Intelligence, analyst Mike McGlone says that there are more concerns about the global economy that could boost BTC in the long term.
At the moment of writing this article, BTC is trading in the green on CMC. The most important crypto is priced at $10,362.47.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.