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Crypto is getting more and more popular all over the world. The digital currency is being used in almost every single sector. Not only is it being introduced to everyone and everywhere, but also it is getting closer in value and might soon break new records and make itself a valid position.
The global pandemic has massively interfered in every single sector and industry. The impact is huge and it is getting harder to recover from it. The economy is sinking and it is very difficult to find the right way out, as we are all surrounded by the deep fog of uncertainty. This is why everyone is trying their best to somehow overcome a very difficult situation.,
The pandemic has affected not only some industries particularly but has had a major impact on the economic state of every country as well as the global economy. This is why financial specialists and experts try to figure out how the economy can be stabilized and what shall be the next step in order to improve the current economic state.
Many people started investing in cryptos, as a digital currency is supposed to be the future of the world, as we all are switching to the digitization process. The digital currency, on the other hand, is not affected by the pandemic and has less impact from the outer factors. It is decentralized and nonphysical, which would have meant a lot during the peak of the post-pandemic crypto period.
Thus, many investors and businessmen started investing in the crypto market even more than they used to. This is the answer to the question, how did Bitcoin reach the incredible value and keeps increasing in value on a daily basis.
The new record
Bitcoin has overcome invalid the Bank of America as well as the New Zealand dollar in Market Capital. This is the new beginning of the digital era. Bitcoin now occupies 25th place via the Market Capital. This is something that not many people would have imagined to happen in the post-pandemic period.
Bitcoin gets a lot of support from first-time investors and this is what matters the most in the massive increase of the BTC volume. The capitalization of the BTC has risen a loss past the Bank of America’s valuation. Thus, Bitcoin is now even closer to Paypal, than ever before.
The current capital of BTC is over $226 billion. This is slightly more than Bank of America’s and New Zealand Dollar’s market capital. The massive change has been the result of the 3.2% rise of the BTC and 2% fall of the Bank of America market capital, which is somewhere around $224 billion. All of this gives the experts and financial specialists the ability to name Bitcoin as the 25th most valuable asset by market capitalization. The next to beat it is Paypal, which still stands further with $230 billion.
Bank of America is definitely not alone in the significant drop of the fiat-based institutions. The New Zealand Dollar also stands right next to it, meaning that Bitcoin has managed to put itself ahead of the NZD just in a matter of the day. This fact also dictates that Bitcoin has occupied 34th place in the list of the most valuable fiat-based currencies.
Bitcoin industries
As mentioned above, Bitcoin and other cryptocurrencies are getting more and more popular among different industries and investors as well. Most of the big industries have already adapted Bitcoin and have introduced new blockchain-based platforms to the customers.
One of the industries which have decided to keep steps closer to the digital world is the gambling industry. It is one of the first industries to introduce blockchain-based platforms and support most of the cryptocurrencies as the payment means. Most of the online casinos, which also tend to be one of the most popular entertainment means all across the world, have already adapted cryptos and introduced multiple numbers of different bitcoin online slots to the audience. A significant portion of the Bitcoin volume is generated from the gambling industry, as more and more companies are on the way of implementing it.
While many controversial and sharp measures have been introduced in order to smooth the economic impact caused by the pandemic, the Federal Reserve has also encouraged different investors to invest more in the crypto markets. Quite a significant number of representatives of gambling industries have already done so, and are expected to invest even more in the nearest future.
Some other famous names, who are involved in the investment processes and contribute to the creation and increase of the Bitcoin volume are Warren Buffet, Jason William, and many more. The feelings of the billionaire, Warren Buffett towards crypto assets are known to everyone. He thinks that the cryptocurrencies and generally crypto market have no value. He is not the only one who thinks this way. Almost 95% of people think that the Bitcoin value is mostly generated via trading between accounts. This means that people think that Bitcoin’s popularity is simply because someone makes many inner transactions.
Fortunately, not that many people agree with Buffett and moreover, it is said that his company, Morgan Creek Digitals’ is executed to invest in the Bitcoin market very soon. It is also said that Buffett might be unaware of this investment as he does not support the idea, though some young blood managers and representatives in the company, definitely shall consider the clever investment of the money in the future.
Buffett is not the only famous name on the list. Together with him, there are names like Paul Tudor Jones, who is the founder of the Tudor Investment Corporation. Another billionaire also considers investing in Bitcoin since revealing that the crypto asset was the part of his portfolio previously. So he is expected to be seen figuring in the crypto market anytime soon and the drastic increase of the Bitcoin value might actually be a good inspiration.
Barstool Sports founder, Dave Portnoy is also among the people to expect in joining the crypto world. It is not a simple guess r, but rather a statement. Portnoy made the statement with one of the websites. He and twin brothers Tyler and Cameron Winklevoss want to make a purchase of $200,000 in Bitcoin as well as $50,000 in Chainlink. This shall be Portony’s first crypto purchase. And let’s agree that for the first purchase and first crypto investment that is a decent portion.
