Bitcoin on Balance Sheets
Within the last few years, we have seen Bitcoin appear on the balance sheets of some big-name companies like Tesla, MicroStrategy and Square. We’re also seeing crypto make its way to wall street in other ways. Coinbase led the pack with its IPO on the Nasdaq back in April of 2021, followed by Bakkt last October. There are also a growing number of public crypto mining companies, leading way to new “mining stock” ETFs that are appearing every year, which are available on traditional brokerages.
The Lightning Network
The Lightning network is one of the most important innovations in cryptocurrency adoption. The Lightning network takes a lot of the complication out of transacting in Bitcoin for both its users and for the Bitcoin network itself. The Lightning network essentially batches smaller Bitcoin-collateralized transactions over a period before they are processed on the Bitcoin network. This keeps transaction costs low and allows for instantaneous transfer of value, similarly to how Visa and MasterCard allow for high TPS payments between banks. The Lightning network also allows its users to take instantaneously take Bitcoin payments in the form of fiat currency or vice versa.
Bitcoin Adoption in Central America
Central America is one of the most has been leading the pack in cryptocurrency adoption for the last year. Paraguay is pushing for more in-country mining and crypto development by enticing cryptocurrency companies to move their businesses to Paraguay with cheap, green energy and low tax rates. There are even talks regarding cryptocurrency friendly banks potentially appearing in Central America in the next few years.
Bitcoin Miami
Bitcoin Miami is projected to be bigger than ever this year, making it the most important cryptocurrency convention in the world. In fact, Miami is hosting more cryptocurrency conventions throughout the month of April, known as “Miami Tech Month.” Crypto events will be hosted in multiple parts of the city each day of Miami Tech Month. Killer Whale will be attending Bitcoin Miami, as well as other events throughout Miami Tech Month.
Conclusion
Bitcoin adoption is one of the most important things that can happen for all of cryptocurrency. Bitcoin dominance may be dwindling as the TOTAL cryptocurrency market cap gradually increases, but keep in mind, all other cryptocurrencies are still tied to Bitcoin’s price action, and will be for a while longer. Therefore, Bitcoin adoption is something we pay so much attention to. What’s good for the goose is good for the gander!
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