Is Bitcoin on the path to become mainstream?

Bitcoin, the most popular cryptocurrency, extended gains on Tuesday as investors took opportunity of the last week’s dip in prices to pile up their digital currency assets. The price of bitcoin climbed as high as US$55,514. The market capitalization of the world’s largest cryptocurrency surged to reclaim the US$1 trillion-mark after almost a week – and stood at US$1.03 trillion. According to Coin desk, the rise in the crypto price was also fueled by news that JP Morgan Chase is planning to introduce an actively managed Bitcoin fund for some of its customers by this summer.

The digital currency was trading 17% lower than its all-time high of US$64,870 on April 28. The Bitcoin price had hit record high on 14 April 2021, on the day of Coinbase Global Inc. share listing on the US Stock Exchange. Last month, Bitcoin price had crossed $60,000 after Elon Musk’s Tesla announced to buy $1.5 billion of the digital currency for its balance sheet. Given the growing popularity of Bitcoin among large investors and companies, the digital currency is expected to become a mainstream payment method.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.