Cryptocurrencies are writing a story that has lasted over 12 years so far. Within this time, investors have witnessed quite a few twists and turns. Initially, Bitcoin was merely laughed at and dismissed as void by financial institutions.
Over time, Bitcoin has been seen by more and more people for what it is – a currency to improve the existing financial system. Thus, as the value of the coin increases, so does its market capitalization and hence the importance that Bitcoin holds in the world.
Currently, this stands at almost $900 billion, placing it at number 7 on the list of largest companies maintained by AssetDash. With this importance, Bitcoin, as well as other cryptocurrencies, is receiving more and more attention.
Earlier this year, Visa also announced plans to integrate cryptos into its payments service. Upon completion of this venture, Visa users will have the ability to pay with cryptocurrencies at over 70 million merchants worldwide.
On a side note, El Salvador is about to become the first country in the world to accept Bitcoin as an official payment method. The corresponding law will come into effect on 07.09.2021. While El Salvador takes a step in this direction, other countries go in a different direction and pronounce strong regulations.