A major influence on Bitcoin’s rise this year is the decision of Paypal and Square to add BTC to their respective platforms. The online payment processing companies gave the cryptocurrency an unprecedented level of legitimization.
Major investment banks also began honing in on BTC’s transformational nature. For instance, a recent report by Deutsche Bank indicated that a growing number of investors are seeing Bitcoin as an effective hedge against inflation.
In all, 2020 has been a year of victory for Bitcoin. From rising prices to increasing legitimacy, the cryptocurrency appears to be on the path of becoming a global currency capable of rivaling gold. For Bitcoin investors and market analysts alike, 2021 is sure to be an interesting and potentially huge year.
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