- Experts believe that Mexican companies will soon add Bitcoin to their balance sheets.
- They believe that Bitcoin already fulfills 2 out of three functions of money.
- Bitcoin offers an alternative to the dollar standard as a store of value.
Some Mexican experts have spoken out in support of Bitcoin (BTC). Some even predict that Mexican companies will soon adopt BTC.
In an interview with El Economista, PwC managing director, Mauricio Hurtado, noted that some firms view crypto as a shot at an edge over their competitors. A view that is likely to drive early adopters to add cryptos to their balance sheets.
Firms like Tesla, MicroStrategy, and FourSquare are already leading the way. Hurtado further said that BTC offers a new store of value that inspires trust. He also believes that the ‘hodl’ idea is helping drive crypto interest.
Based on another expert, Volabit director Tomás Álvarez Melis, BTC is going through a monetization process. Thus, it is only a matter of time before the public accepts that BTC offers all the uses of money.
Melis believes that right now BTC is a good store of value. Many investors use it as a long-term investment option. Melis also noted that there is a steady view that fiat money leads to a loss of buying power over time. Inflationary monetary policies often drive this loss of value, a problem BTC does not have.
BTC also already fulfills the second use as a medium of exchange thanks to digital payment providers like PayPal. PayPal already supports BTC, while others like Mastercard and Visa have BTC projects on the way.
Although BTC is not yet commonly used as a unit of account, Alvarez believes it’s inevitable. Current events will surely boost trust in cryptos. Thus making them attractive to Mexican companies looking to move from the dollar standard.
BTC set a new ATH of $50,000 in the wake of the recent rise in company adoption.