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October 2, 2022
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Citigroup: Bitcoin may soon enter the mainstream –

Bitcoin may be close to entering the mainstream financial world. This is what City, the fourth largest bank in the US in terms of assets, said. This information was given in the new one report Citigroup’s Global Perspectives & Solutions. However, experts emphasized that this may be related to certain phenomena dangerous for cryptocurrencies.

Citigroup is researching the BTC topic

Citigroup analysts believe Bitcoin is today “Optimally positioned”. This includes its status as the preferred currency in world trading. All for his sake “Decentralized, deflationary and highly secure.

It is resistant to both fiscal and monetary policies, avoids the need to make cross-border foreign exchange (FX) transactions, enables near-instant payments and eliminates worries of late or cancellation [transakcji]because the coins must be in the payer’s wallet before making the transaction

– enumerate the advantages of BTC.

Citigroup adds that the growing use of Bitcoin in both emerging and developed economies is stimulating the maturation of the entire ecosystem and bolstering the reputation of the main cryptocurrency as a store of value. According to the bank, Bitcoin’s status as digital gold has in effect attracted the first institutional investors to the cryptocurrency market. These are already using BTC as “Portfolio diversifier and macroeconomic hedge”.

Mainstream? It’s not for me!

The financial giant also believes that the adoption of BTC into the mainstream may lead to the exit of the cryptocurrency market by talented developers and entrepreneurs.

Such improvements would bring Bitcoin and the cryptocurrency space closer to the supervision and rules of traditional financial regulators. This, in turn, could cause many of the most innovative developers and entrepreneurs to leave the ecosystem as it deviates from the anti-establishment ethos of Bitcoin’s roots. Finally, the macro investing environment could change and make the need for a new asset with a Bitcoin profile less pressing – experts added. – The future of Bitcoin is therefore still uncertain, but events in the near term are likely to prove decisive – forecast.

It is worth adding that 2020 turned out to be a breakthrough in some respects. Investments in BTC include, among others companies such as MicroStrategy and Square. This year, in turn, Tesla invested in the cryptocurrency. Hence, today you have to pay as much as USD 49,000 for 1 BTC.

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