Bitcoin has experienced an amazing 2017, with its value soaring at an unprecedented rate from $900 when the year started to over $17,000 in December. The growth of this cryptocurrency seems to be unstoppable. Wall Street strategist Tom Lee has always expressed his strong belief in bitcoin technology and even predicts that its value would as high as $55,000 in five years. Given the growth it has achieved since its inception in 2009, and with positive developments happening on a global scale in favor of bitcoin, the future seems to hold a lot of promise for this digital currency.
More Businesses Worldwide Are Accepting Bitcoin Payments
The year 2017 witnessed a 55% growth in bitcoin transactions and there are about 30,000 new bitcoin wallets created every day. Recently, after bitcoin became an official method of payment in Japan, major retailers partnered with local bitcoin exchanges and now 260,000 stores have begun accepting bitcoin payments all over the country. There are also speculations that major online retail company Amazon will soon be offering bitcoin payment as one of its online payment options for its customers. Online gaming sites have begun accepting bitcoins as well. An article on Gamble.io enumerates the top 7 bitcoin casino sites for December 2017, along with their ratings and reviews on each. For anyone who is new to bitcoin casinos, it will be a good idea to read their full article as this is a good reference since the article also details how online bitcoin gaming sites operate and how deposits and withdrawals are done, including why casinos were quick to adapt this payment method.
Major Financial Institutions Will Begin to Invest in Bitcoins
It is forecasted that there will be a substantial growth in regulations for cryptocurrencies in 2018. This will play an important role in driving major financial institutions to invest billions in bitcoins. It is also predicted that ETFs will soon be approved by the United States Securities and Exchange Commission. With this, financial institutions will be able to offer their clients new investment options. Other developments in options trading involve LedgerX, a licensed swap execution facility and derivatives clearing organization, which has recently been launched. There’s also overstock.com’s subsidiary, tZero, which just got regulatory compliance for an alternative trading system for blockchain assets with the SEC and FINRA.
The Bitcoin Is Now More Accessible Than Ever
During its first years after the bitcoin was launched, not everyone can access this currency. In fact, the bitcoin was limited as a peer-to-peer digital currency system, and only techie individuals could understand how it works and get involved in bitcoin mining. But today so much has changed for this digital currency. A lot of companies have made it possible to use and transact with the use of this cryptocurrency. Several online sites have emerged to make it very convenient to buy, sell, trade, and store bitcoins.
Bitcoin technology has experienced so much growth in 2017, and it does not seem to show any possibility of changing its course. Needless to say, this digital gold, as the bitcoin is regarded by investors, shows a lot of promise, making it a valuable investment.