Will Bitcoin become a global means of payment?

Citibank analysts are confident that the fate of bitcoin will soon become clear: either there will be a speculative boom, or bitcoin will become the world’s means of settlement.

Recent news from Tesla, Mastercard, Square, and Microstrategy are driving widespread adoption of bitcoin, the company said. It is especially interesting that in the early stages of BTC’s existence, institutional investors preferred to ignore or speak negatively about this cryptocurrency.

Crypto adoption will gain traction, focusing on the main benefits of a blockchain asset: transparency and decentralization. One of the advantages of bitcoin analysts called low costs for transactions. 

There are many risks and barriers to Bitcoin’s progress. Comparing potential problems with opportunities leads us to the conclusion that the asset is at a tipping point, the report says.

Among the disadvantages were poor network scalability and lack of clear regulation. The experts drew attention to the fact that the main reason for investing in bitcoin from institutional companies was inflation hedging. But a recovery in economic growth could change their minds.