Bitcoin is a peer-to-peer electronic trade that is decentralized. To put it simply, this implies that people can transmit money directly to one another without the need for a bank or a third party to act as a middleman.
Bitcoin was developed not to rely on the government or banking institutions to conduct financial transactions. Bitcoin allows users to transact amongst themselves via the Bitcoin blockchain, which uses a proof-of-work approach for transaction tracking and verification.
When Bitcoin (BTC) first appeared in 2008, no one could have predicted the incredible rise it would see until its all-time high in 2021. The first cryptocurrency’s value soared from a few hundred dollars to several thousand more than a decade ago.
Even after the recent market correction, cryptocurrency analysts have been talking about the impressive growth of Bitcoin over the past few years. In 2017 alone, its value skyrocketed from $1,000 to $20,000 before settling back down to around $13,000 at press time. At the moment of writing this article, Bitcoin is sitting just above $40.000 with an increase of 5% in a single day. (For the current price of Bitcoin please check the chart below)
Since the Bitcoin blockchain was created in 2009 by an anonymous programmer (or group of programmers), it has become one of the world’s most valuable cryptocurrencies with a current value of almost $200 billion and hundreds of thousands of online stores already accepting it as payment. One of the biggest reasons why Bitcoin is growing so fast is because of growing adoption as a payment, let’s not mention media attention, inflation hedge, easy buy and sale, number of people mining, etc… Below we will discuss some of the biggest companies that have already adopted Bitcoin and hopefully, you will understand why Bitcoin is growing so fast.
What companies are accepting Bitcoin as payment?
Bitcoin has dominated the cryptocurrency market. It is currently the most popular and widely used digital currency. Many significant companies now accept Bitcoin as a legal form of payment.
Almost one-third of small businesses surveyed in 2015 reported that they’d accepted Bitcoin as payment. This year, that number is probably much higher. More and more companies are using Bitcoin as an investment tool. Below are the ten most popular companies accepting Bitcoin payments worldwide today:
- Burger King
What investment companies are using Bitcoin?
As more and more companies are jumping on board with Bitcoin, it’s safe to say that there’s a growing interest in its continued growth. As an investment vehicle, Bitcoin is both exciting and risky.
It remains to be seen whether the value of cryptocurrencies will rise or decline, but if they continue to develop at their current rate, they will most certainly become mainstream before long.
Bitcoin is the largest blockchain-based digital asset; several wealthy company owners and entrepreneurs have invested heavily in this digital asset. Here are the leading investors in Bitcoin:
- Barry Silbert founded Digital Currency Group, the parent company of Grayscale Bitcoin Trust, Coinbase, and Coindesk. The Digital Currency Company has invested in over 165 blockchain and cryptocurrency startups.
- Micheal Saylor is the CEO of Microstrategy, which significantly invested in Bitcoin. In December 2021, Microstrategy expanded its Bitcoin holdings by acquiring 1,434 Bitcoin for around $84 million. The firm has 122,478 Bitcoin in total.
- Cameron and Tyler Winklevoss are investors in several cryptocurrencies and blockchain-related firms, including the privately held Gemini exchange. They are thought to be the first Bitcoin billionaires, with an estimated holding of 100,000 coins.
- Tesla, Elon Musk’s company, bought $1.5 billion in Bitcoin in 2021 to adopt it as a means of payment.
- Michael Novogratz established Galaxy Digital Holdings, a broker-dealer managing bitcoin, and digital assets. As of its 2021 third-quarter report, the company will have approximately $768.1 million in Bitcoin.
What banks are investing in crypto?
Institutions of banking were terrified and distrustful of Bitcoin when it was initially introduced in 2009 as a virtual currency. Financial institutions, including global banks, repeatedly warned initial crypto investors that they are an unregulated asset class.
Individuals have been drawn to investing in cryptocurrencies because they offer a more modern, efficient, and decentralized way to make payments and transactions.
Regulated and unclassified assets have long been prohibited from investing in banks and other traditional financial institutions. Many of the world’s most prestigious banks now favor cryptocurrency investment to provide their clients with top-notch financial services.
Here’s the list of the top 10 banks investing in crypto:
- Standard Chartered
- BNY Mellon
- BNP Paribas
- Morgan Stanley
- JP Morgan Chase
- Goldman Sachs
What problem Bitcoin solves?
There are many advantages to using Bitcoin, but one of its most valuable benefits might be that it allows you to transfer money anywhere in the world at a much faster rate than other forms of payment.
Because there are no centralized middlemen or banks, users can exchange Bitcoin instantly on crypto exchanges with just a few clicks. The encryption techniques behind Bitcoin also protect your personal information and make it impossible for cybercriminals to take over or steal your identity—no small benefit when doing business online.
How to buy bitcoin easily?
Platforms for purchasing Bitcoin include websites such as www.binance.com, www.bitmart.com, and many more, digital wallet providers, centralized spot exchanges, peer-to-peer markets, and even payment programs like PayPal.
Of course, it is also feasible to purchase Bitcoin in person. For example, you may send your friend cash in return for an agreed-upon sum of Bitcoin.
The cryptocurrency market has exploded in popularity over the past couple of years and there are over 5000 cryptocurrency available on the market and the best place to search for new cryptocurrency is Coingecko.com. Though opinions may differ about whether or not Bitcoin (BTC) will remain as dominant in 2022 as it is today, there’s no doubt that crypto exchanges are popular and well-used by those within and without the crypto sphere.
Here is our top cryptocurrency exchanges and investment/trading platforms in 2022: