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The back half of 2020 has been a huge period for crypto adoption. Unprecedented central bank money printing to support economies during the coronavirus pandemic and slashing of benchmark interest rates to near zero have caused many to question the long-term value and stability of fiat currency. In response, for the first time, many institutions, financial and otherwise, have looked to cryptocurrencies as a viable long-term store of value and/or payment method. A recent high-profile case is the publicly traded software company Microstrategy (ticker: MSTR) deciding, in the 3rd quarter of this year, to allocate almost all its excess cash — over $400mil — to Bitcoin. As of this writing, they are sitting on almost $300mil of paper gains. Just yesterday, the press reported that 169 year old life insurance company Mass Mutual purchased $100mil of Bitcoin for its general assets account. Moreover, PayPal, the popular P2P wallet and e-commerce payments provider announced in October that account holders will be able to buy crypto within its wallet and use it as a form of tender when making online purchases. Finally, the price of Bitcoin, at the current $18K price is up 2.5x …

About

Edward Nwokedi

Founder and CEO of RedSwan.io a commercial real estate marketplace for digital asset investments of equity ownership leveraging the blockchain.

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