According to Bittrex Global exchange CEO Stephen Stonberg, the early stage of cryptocurrency adoption has ended.
The beginning of the cryptocurrency industry is often considered to be when Bitcoin was created. Much has changed since then. Over the past few years, what was initially only of interest to enthusiasts has grown into a powerful industry, exemplified by the large number of cryptocurrency and blockchain technology development companies.
Bittrex CEO on cryptocurrency adoption
In a statement to Cointelegraph, the CEO of Bittrex said that the cryptocurrency industry is already past the early adoption stage:
“I think we’re already past the stage of crypto early adoption”.
According to Stephen Stonberg, crypto has already moved into the mainstream. This is confirmed by the increased adoption rates in developed and developing countries. Bitcoin has been recognized as legal tender nationwide, and other countries may soon decide to take a similar step.
“Crypto has now gone mainstream. We have double digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries considering adopting Bitcoin as legal tender.”
This refers to El Salvador, which was the first country in the world to recognize BTC as legal tender. You can find all the information on this topic in the articles in the series https://bithub.pl/tag/salwador/.
Stonberg also referred to the changes that have taken place at the commercial level:
“At the commercial level we are also seeing big changes.”
The best example is the recent announcement that the US cinema chain AMC is to start accepting payments for tickets in BTC from next year. We described this in the article: World’s largest cinema chain plans to accept payments in BTC.
In a statement to the website, there was also a thread related to the increased interest in the cryptocurrency industry from major institutions:
“Almost all major institutions have invested in cryptocurrencies or plan to invest in cryptocurrencies.