American tech giant, Google, has introduced Bitcoin, Ethereum and Litecoin as legal tenders on its finance platform.
Like the case of Tesla, throwing its weight behind the global usage of cryptocurrencies; the development will further promote the adoption of Bitcoin, Ethereum and Litecoin in the global economy.
Analysts speculated that the adoption made by Google might have been influenced by recent incorporation of cryptos made by leading tech brands across the world.
Recall that PayPal and the world’s largest asset fund manager, BlackRock, have, in the past, made big moves to support use of cryptos as means of market exchange.
Earlier speaking on the global invasion of cryptocurrencies, Bloomberg Intelligence, had pointed out that in just about five years’ time Bitcoin could hit a valuation of $100,000.
The publication explained that: “Bitcoin’s foundation is firming for further price advances if its history is a guide. Since initially reaching $10,000 in 2017, the benchmark crypto corrected about 70% and remains in an extended period of consolidation around that level.”
“It would be recalled that in 2013, Bitcoin was trading barely at a price of about a thousand dollars. It corrected about 80% and consolidated in 2017, after initially reaching $1,000, it added a zero.
“Considering normal maturation, about double the time frame from $1,000 to $10,000 would come in around 2025, for Bitcoin to potentially add another zero.”
Although, cryptos have continued to get more acceptable in recent months from blue-chip companies like Tesla, Mastercard and America’s oldest bank, BNY Mellon; however, another league of investors and market leaders such as Bill Gates and Warren Buffett continues to write off the chances of the world fully adopting the digital commodities.
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