Four reasons why 2021 could be the best year for Bitcoin and Co.
Four reasons why 2021 could be the best year for Bitcoin and Co.
Bitcoin and Co. come into the mainstream
2021 could be the year of mainstream adaptation of cryptocurrencies. PayPal wants to give 346 million people access to digital currencies this year. In addition, it should soon be possible to pay with crypto currencies at over 26 million merchants worldwide.DeFi integration into the traditional financial system
Paxos wants to use Chainlink's oracle network to, among other things, promote the adaptation of the Stable Coin Paxos Standard (PAX) in the DeFi sector. In addition, a press release published by Paxos suggests that further expansion into the DeFi sector is imminent in the next few months. It is therefore conceivable that, in addition to Bitcoin and other crypto currencies, DeFi applications will also be integrated at Paxos customers such as PayPal or Revolut in the future.
In addition, the travel app Maps.me, which has over 140 million customers worldwide, announced that it would like to integrate DeFi applications into the app. The company has already raised $ 50 million from investors.
Maps.me co-founder Alex Grebnev stated that his company has long-term plans to integrate a wide range of financial services into the app. In addition, Maps.me is to receive a native crypto wallet. This is also extremely positive news for Bitcoin, as there is a high probability that digital gold could also gain access to the DeFi sector via the app integrations.
- Crypto Company IPOs
Currently there are still a few listed companies through which investors can invest in the crypto industry. That could change drastically this year.
The Bitcoin exchange Coinbase wants to go public this year. As a result, the San Francisco-based company filed an application to go public just a few weeks ago. With 35 million users in more than 100 countries, Coinbase is one of the pillars of the crypto industry.
- Bitcoin expert to become head of the SEC
Many expect the Joe Biden White House to put a new focus on regulating cryptocurrencies. In the USA in particular, there is a lack of regulatory clarity compared to countries such as Switzerland, Great Britain, Singapore or Japan. Therefore, many companies that have to do with Bitcoin and Co. are currently in a limbo.
Cryptocurrencies continue to penetrate the mainstream. Therefore, both the USA and other G20 countries have no other choice and must create a clear framework for the new asset class. The new nominated SEC Chairman Gary Gensler plays a crucial role in this.