Bitcoin has become one of the most valuable cryptocurrencies, and it has continued to perform well during 2020 and 2021. In March 2021, Bitcoin price peaked at $60,000, and it was a great surprise to a lot of supporters that didn’t believe this record will be reached so soon; however, between 2020 and 2021 has proven that it is definitely one of the most valuable cryptocurrencies because its price has since increased by over 200%. It’s safe to say that this bull cycle has definitely helped with the mainstream adoption of Bitcoin.
Institutional Support
When we talk about institutional support, this is one of the factors that definitely fuelled the bull run of Bitcoin because the number of institutional investors that obviously are able to make greater investments in BTC definitely helped with the climb of Bitcoin’s price. Some notable institutional investors include crypto trust funds such as the Grayscale Bitcoin Trust fund, which is one of the biggest trust funds for BTC, and other investment funds like the Osprey Funds, Bitcoin Trust from Ninepoint, and other brands.
Another reason why crypto trust funds are appealing to accredited investors is that they are responsible for keeping BTC safe and managing their funds. Essentially, they do the research and afterward make investments on behalf of their users. The support by this institutional support also shows that there is an interest by accredited investors in BTC, and it is another sign of mass adoption of cryptocurrencies.
Online Trading
Online trading sites are also helping with the mass adoption of Bitcoin because without trading platforms; it will be very difficult to obtain BTC except for Bitcoin mining. They are the crypto marketplaces where the consensus of the price of Bitcoin is reached, and they also allow users from all over the world to sell BTC, buy it or exchange it for other altcoins.
Automated trading sites, on the other hand, help with mainstream accessibility because they are basically trading on behalf of users on the platform and are powered by artificial intelligence technology. So, they can conduct trading much faster than regular trading sites. For example, News spy software uses advanced AI technology to trade at a high profitability rate. Actually, you could generate a daily return of up to 70% here. If you want to create an account, you need to deposit at least $250.
Business Support
When it comes to the business support of Bitcoin, here we see the mass adoption of the cryptocurrency because small and famous businesses are accepting BTC payments. This means they feel there is an audience that can use BTC for their products and services.
Consequently, you will notice that there are big brands like and Tesla, Square, OkCupid, Wikipedia, and others who are supporting Bitcoin, and we expect in the future more widespread usage of BTC.
Moreover, there are businesses that also invest in Bitcoin. One of the most prominent brands is Square who made a huge investment of $50 million in Bitcoin. In addition, Tesla also made an even bigger investment in BTC of $1.5 billion. This action is definitely helped with the bull run of Bitcoin and not only prolonged this cycle but also helped Bitcoin achieve an even higher price.
Final Thoughts
In conclusion, thanks to Bitcoin’s rally, a lot of governments and commercial, financial institutions are showing interest in cryptocurrencies and developing even their own versions of a digital currency.
One of the latest examples is China’s digital currency, the E-yuan. In addition, there are many celebrities like Elon Musk who support Bitcoin and publicly expressed the advantages of investing in cryptocurrencies. So even if we seem far from the mainstream acceptance of crypto, it’s been definitely happening right now, and in the future, we expect more people to invest in BTC and be able to use it on a daily basis.
