Bitcoin’s Legendary Run Attracting Interest on Wall Street
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It’s no secret that 2021 has been pretty kind of Bitcoin so far. The world’s leading cryptocurrency resurrected in late 2020, going on a bull’s run that saw it reach new heights. This isn’t like the time when the bubble burst in 2017. This time, Bitcoin is more mature and easier to accept.
From the burst of Bitcoin online casinos to governments approving its use, the climate for Bitcoin’s growth has been developing for quite some time. The price is going up well over 50K, and this time, it’s attracting the interest of the biggest fish in the pond. We’re talking about Wall Street, where Bitcoin has recently found a bunch of supporters.
Morgan Stanley Betting on Bitcoin?
A Morgan Stanley unit has recently expressed its interest on whether to bet on Bitcoin. Rumor has it that the team was surprised and impressed by Elon Musk’s announcement that his company Tesla just invested $1.5 billion in Bitcoin. Canada has approved the first North American Bitcoin exchange-traded fund, so the soil is ripe for planting Bitcoin seeds right now.
More and more companies and investors are lining up before Bitcoin. It’s become an obsession of many, with even Mastercard allowing its cardholders to transact in certain cryptocurrencies. The world is slowly realizing the potential Bitcoin offers, and it’s for the best.
Don’t believe the hype? Just take a look at what Bitcoin casinos have achieved. The leading cryptocurrency has revolutionized the gaming market, enabling blazing-fast and anonymous transactions. It’s becoming quite an attractive alternative payment method for players, and that will translate to more widespread use in other industries soon.
The fact that luminaries such as Elon Musk and Wall Street figures are interested in it speaks volumes. Just recently, BNY Mellon has announced the formation of a new team that is supposed to develop an administration platform for both traditional and digital assets. All of these things together are the reason why Bitcoin has been on such a roll lately. It has just broken past the $50,000 mark, and experts are adamant that it won’t be stopping there.
More Corporate Endorsement is Key
Many experts believe that Bitcoin’s meteoric rise will continue with bigger corporate endorsement. The cryptocurrency will probably see wild swings over the weekends, although the debate whether it’s a viable and legit asset will continue for some time. Many have bashed Bitcoin for its role in scams and money laundering. The volatility is another problem too. However, seeing the support it has received early this year, it seems that it’s walking the path of legit assets.
As more and more companies and celebrities join the fray, Bitcoin’s flag will continue to fly high. As it reaches its apex, financial institutions will have no other option than to acknowledge it. The new era is coming fast and its high time all of us accept it. Wall Street investors are looking into the possibility, and when they are interested, the whole world should be.
