- Crypto adoption still high among top corporate institutions
- BlockWork founder predicts that top institutions could enable use of Bitcoin
Top corporate institutions have begun adopting cryptocurrency at a rate that could spur a mass adoption and acceptance of crypto assets.
These institutions have had to change their institutional policies and regulations to have room for crypto assets. These firms are either investing in cryptocurrency if they are holding the crypto assets as a store of value.
The level of this crypto adoption among some of these institutions have led to the prediction that other top institutions could be seeking crypto adoption means also. Analysts have predicted that these firms have their eyes set on Bitcoin.
Jason Yanowitz, the founder of BlockWork Groups, predicted that top corporate institutions like Google and Facebook could also start a crypto adoption policy. He made this statement via Twitter.
The BlockWork founder asserted that PayPal entrance into the market would encourage other top institutions to start thinking of how their policies can be tweaked to allow room for crypto adoption and usage.
He went on to posit that these institutions would enable the use of Bitcoin especially through digital wallets.
Crypto adoption to become rife among institutions
Crypto assets have gained widespread adoption and usage by institutional investors.
PayPal’s integration of crypto assets into its payment gateway system has been hailed by many as a game changer. According to these analysts, crypto adoption by PayPal would spur a mass adoption and acceptance of cryptocurrency especially amongst millennials.
Many of these institutions now see cryptocurrency as the future of transaction. They believe that these crypto assets would make transactions faster, easier and cheaper.
Some of these institutions also recognize that crypto assets like Bitcoin can be used as a store of value.
You will also recall that Facebook had also been working on its digital currency, Libra.