- Bitcoin adoption will lead to a trillion-dollar BTC market cap.
- Bank of New York Mellon (BNY Mellon) and Mastercard joins the list of industry leaders adopting Bitcoin.
- BTC price has risen more than 60% since the start of this year.
Bitcoin adoption will soon lead to a trillion-dollar BTC market cap. At the time of writing, the fully diluted market cap of BTC is worth $992,945,772,000.
Bitcoin Adoption: Mastercard, BNY Mellon
Mastercard is preparing right now for the future of crypto and payments, following its observation that people are usually buying bitcoin using debit cards. In fact, it has been evident especially during Bitcoin’s recent price surge.
In particular, Mastercard does not recommend using cryptocurrencies. Instead, they want people to be more in control of their money.
[We] are here to enable customers, merchants, and businesses to move digital value – traditional or crypto – however, they want.
Prior to this, PayPal has also disclosed its plans to expand crypto services globally.
In addition, BNY Mellon, America’s oldest bank, said that it will begin financing bitcoin and other digital currencies. “BNY Mellon is proud to be the first global bank to announce plans to provide an integrated service for digital assets,” said BNY Mellon’s Head of Digital Roman Regelman.
Major custodian banks expressed concerns over regulatory or legal risks involved in banking cryptocurrencies. Yet, as prices of bitcoin and altcoins have continued to rise, they have become more popular with asset managers, hedge funds, and other institutional investors such as Grayscale Investment.
Trillion Dollar BTC Market Cap
In detail, the BTC price is changing hands at $47,011.72. In line with this, the BTC market cap has surpassed the $900 billion mark. Sooner than later, it will reach to trillion dollars.
Bitcoin just crossed $900 billion in market cap for the first time in history.— Pomp 🌪 (@APompliano) February 12, 2021
$1 trillion is next.
It is worthy to be noted that Bitcoin soared to a new high following the announcements from Mastercard and BNY Mellon. Furthermore, BTC price has risen more than 60% since the start of this year.