Is cryptocurrency the wave of the future or just a dot-com bubble waiting to pop? Time will tell, but there is good evidence that cryptocurrency will only get more popular and widely used in the months and years to come. Citibank believes that Bitcoin’s numerous advantages are bringing it to a “tipping point” into the mainstream. It is undeniable that in spite of–or even because of–the issues of the last year, the list of who accepts cryptocurrency is expanding by leaps and bounds.
Bitcoin started creeping slowly but steadily into the mainstream since its debut in 2008. Once considered far too volatile an investment for traditional banks to take a risk on, JPMorgan took on cryptocurrency customers as of May 2020 and has been banking digital securities firm TokenSoft since 2017. It doesn’t hurt that several big names have endorsed or praised cryptocurrency, including Bill Gates of Microsoft, Elon Musk of Tesla and SpaceX, actress Gwyneth Paltrow, and rapper Snoop Dogg.