- Bitcoin has grown immensely over the last decade
- Its adoption and acceptance has also grown exponentially
In the current century, everybody recognises Bitcoin as a success story that has changed our financial and economic system.
However, that has not always been the case. When the coin was initially developed, sceptics believed the coin was going to be a flash in the pan. But the coin has proven to be a huge success.
The value of the crypto asset has grown from $0.1 to its current over $15,000. Though it has not always been plain sailing, Bitcoin has always found a way to pull itself back whenever it experiences any low.
Considering what the coin has been able to achieve in recent times, especially when it comes to corporate adoption and also governmental efforts to ensure regulation in the industry, this could just be the defining moment for Bitcoin.
Why this moment is critical for Bitcoin
The argument that has always been in favor of Bitcoin has been the fact that the coin is decentralized. This has given the coin an enormous advantage over fiat currencies that are prone to government regulations.
Owners of Bitcoin have no need to worry about government interference or be scared of the government tendency to devalue its fiat currency. Bitcoin is immune to such interferences.
This has played a huge role in why investors and corporate institutions are looking to adopt the coin as a store of value. The coin still holds enormous potential in comparison to every other form of money known to man.
Away from that, the coin has many factors that are currently playing in its favor. One of them is the new interest governments of the world are paying to the coin and other virtual currencies as a system that can complement their physical cash.
There are currently over 5 different CBDC projects in the world presently. Other countries have also started trying to put some level of clarity to their regulations regarding the coin.
This coupled with other factors would play a major role in making te coin indispensable.