Bitcoin’s Conquest for Global Adoption

Bitcoin started its journey from an anonymous whitepaper to a now fast-growing investment asset, pioneering the next stage for finance through digitalization and in a conquest for global adoption.

From pizza payments to legal tender, Here’s our insights on the current state of Bitcoin:

Bitcoin from purchasing pizza in reddit to legal tender in El Salvador

BTC has taken Blockchain technology to the next level initially conceptualized in 1991. Blockchain technology provides a decentralized and permissionless transfer of information but widely used as a mode for virtual currency popularized by Bitcoin

Bitcoin’s proposition is simple yet valuable:

🔹Decentralized

🔹Permissionless

🔹Censorship Resistant

🔹Limited Supply

These metrics have allowed it to grow to a $750B market cap matching narratives such as “Store of Value” and “Digital Gold”

But Bitcoin continues to advance. Even during the early years, large companies such as Microsoft have already taken notice. In 2014, Microsoft accepted crypto payment for games, apps and other digital content.

Additionally based on the adoption curve presented by Fidelity, BTC will likely evolve to a more mature two-way market, driven by network effects and scarcity, almost baked in for growth

This cascades of “generational wealth accumulation” through Bitcoin have brought in a sizeable community creating an impact to various fields such as:

Politics

Crypto believers provide their support to government candidates having the same vision on BTC, hopeful for cryptocurrency be painted a better picture to society. Such example is President elect Yoon Suk-Yeol, winning 49% of the votes, becoming the first pro-crypto head of state to be elected in South Korea

Companies

Its evident that BTC provides financial value just by HODLing which has subsequently reflected interest to large companies to jump in the BTC train. Movements coming from prominent figures such as Michael Saylor, Barry Silbert and Elon Musk supporting BTC have contributed to the market growth of Crypto as they themselves have invested. Here’s a table reflecting assets from large companies holding Bitcoin:

Professionals paid in Bitcoin

Bitcoin has not only gained interest to institutions, companies, or finance sectors but it has also revolutionize payments in other fields. Sports professionals have recently displayed interest in being paid through Bitcoin such as Odell Beckham, Klay Thompson and Aaron Rogers.

Fidelity has also recently announced that they are offering 401(k) investors access to Bitcoin, the first ever retirement plant to do so

Professionals whose salaries are partially paid in Bitcoin

Countries

2021 created a stage for BTC to scale a step further for adoption with various countries seriously considering Bitcoin due to the opportunities crypto can provide on accessibility, cash flow and wealth generation. ICYMI;

El Salvador adopts BTC as legal Tender (Sept 07 2021)
Dubai Approves virtual Assets Law (February 28)
Central Bank of Portugal grants country’s first Crypto License (April 15)
The first Bitcoin ETF lists in Australia (April 27)
Central African Republic adopts BTC as legal Tender (April 27)
Brazil passes bill to regulate cryptocurrencies (April 27)
Cuba Approves Cryptocurrency Services (April 28)
Goldman Sachs offers it first Bitcoin-Backed loan (April 29)

Central African Republic adopts BTC as legal tender

Our insights

Our position on the matter has always been optimistic regardless of price. Bitcoin’s network effects continue to rise exponentially, utilizing the digital network to provide financial access across the world and we believe we are just scratching the surface. It only takes a spark to light up the fire. Stick with accumulating BTC and WAGMI