From the beginning of the current year, Bitcoin (BTC) has managed to be in the spotlight among all other cryptocurrencies. Its price was already experiencing a gradual increase until the pandemic hit. That is when its price started showing an upward and a promising trend.
However, that was not all for the growth and development of Bitcoin (BTC) in the global economic sector. Just recently, PayPal announced the integration of cryptocurrency technology into its platform.
This announcement caused a frenzy not only in the crypto-world but in the real-time corporate world as well. This was because now one of the major financial giants had adopted crypto-blockchain technology. This would prove to be another milestone achieved by the cryptocurrency industry in the real-time economy.
After the announcement, the price of the Bitcoin (BTC) started showing a significant increase. So far, the Bitcoin (BTC) price has risen up to $13,813.40 per token and it is being predicted that the price is set to see a constant increase.
So far, the Bitcoin (BTC) price has already set a new high for the running year. Since PayPal’s announcement, the Bitcoin (BTC) price has experienced around a 16% increase in its value.
On top of that, Bitcoin (BTC) is on its way to beating PayPal itself by taking its spot as the 21st biggest asset with respect to market capitalization.
Before PayPal, it was another payment solution giant, Square that made an announcement related to cryptocurrencies. Square announced that it had started investing in Bitcoin (BTC) which is currently the largest cryptocurrency in the crypto-market. The investment firm stated that it has invested 1% of its assets to acquire Bitcoin (BTC).
As per sources, it was Square that compelled PayPal into considering the potential of cryptocurrency and blockchain technology. Therefore, right after two weeks, PayPal made the announcement of integrating crypto-technology into its platform.
A few days ago, the researcher the 21Shares made a supporting statement regarding the success of Bitcoin (BTC). He stated that if the investment and adoption of the Bitcoin (BTC) keep growing, soon the Bitcoin (BTC) will gain institutional interest in the global economy.