Bitcoin is also known as "digital gold". Due to its scarcity and anti-deflation characteristics brought by its constant total amount, it is gradually regarded by investors as a value-preserving product and a safe-haven asset.
Bitcoin, as an epoch-making product and the first application of blockchain, plays an important role in the field of encrypted assets. According to Coinmarketcap data, the market value of Bitcoin accounts for most of the total market value of cryptocurrencies. In addition, after Bitcoin broke through the trillion-dollar market value, it has reached 10% of the total market value of gold and surpassed a number of well-known companies such as Tesla and Facebook.
The growth of Bitcoin's market value reflects its continued expansion of influence. As Citibank said, Bitcoin is at the critical point of entering the mainstream. Traditional financial institutions such as JPMorgan Chase, Morgan Stanley, and Fidelity have begun to launch products related to Bitcoin. It can be seen that Bitcoin is becoming a force that cannot be ignored and is affecting the traditional financial world. In addition, the involvement of payment giants such as Visa, PayPal, MasterCard, and Square will further expand the coverage of Bitcoin and bring positive effects to the future development.
There is no doubt that institutional users are increasingly interested in Bitcoin. More and more institutional investors believe that Bitcoin can hedge against inflation, diversify investment portfolios, and serve as a safe haven that traditional government bonds cannot provide. Therefore, Bitcoin will soon become a mainstream asset.
