Bitcoin(BTC) was inches close today of touching the long awaited $50,000 dollar valuation, recording however a around $8,000 daily candle, the biggest in its history. The digital gold is smashing milestone after milestone, record after record, and it's unbelievable how the crypto world in general is gradually being emerged with the mundane.
From what I read today, the dollar valuation of BTC was at some point in the past 24 hours higher than the Russian ruble and the total market capitalization of cryptos is close to eating Apple's total market valuation. Bitcoin gradually becomes a form of payment, with some excusive use for the moment, and a store of value.
Blockchain technology and cryptocurrencies are gradually redefining internet, taking it to a new level sort to speak, creating new economies online and turning worlds upside down. We can't call all of this mass adoption though, although some people do live on earnings from a blockchain based activity such as Hive, which says a lot on how far has this technology reached and changing lives.
There are talks running around on the internet about Apple being the next giant company to get involved with Bitcoin and from what I read on twitter some are saying that Apple might offer exchange services for BTC quite similar to a crypto exchange, something like supported wallets on their iphones and a form of exchange between fiat and BTC and between cryptos... Probably that's true, I really have no clue.
But, What's the next big thing for Bitcoin?
I'd say that following financial institutions hoarding to stack sats, a few world governments such as Iran trying to circumvent US sanctions by using Bitcoin and some Canadian using mining rigs to heat an old church, all recent Bitcoin real life transforming events, it's time for banks to get into Bitcoin.
Yes, central banks will for sure issue their own CBDCs sooner or later and some will probably use blockchain technology, such as Ukraine will with the Stellar Lumens one, but I'd say the next big thing for Bitcoin is banks offering custodial services and direct exchange fiat to crypto and crypto to fiat for their customers.
Banks are not stupid, I've said that tens of times on my blog, and they won't let this profitable revolution slipping through their fingers without profiting from it. I know most of us would rather circumvent banks and store our precious digital gold and silver on our personal digital wallets, but some prefer convenience and safety, as in the case of this corona pandemic, and will happily store BTC into a bank and happily purchase it directly through a bank.
I doubt it will be something fancy like Binance or other crypto exchange, but the next big thing for Bitcoin imo is banks accepting it through a custodian service and offering inter banks transfer options as well. What is your take though, what do you think it will be the next big thing for Bitcoin after Tesla just announced it purchased $1.5 billion worth of BTC.
Thanks for attention,
Adrian