Bitcoin is the future I say, every time I write about it. And this is because the cryptocurrency has been started to be treated as a valid form of investment worldwide. Entrepreneurs like Elon Musk and influencers like Mr. Beast have changed their Twitter bio to “Bitcoin. And now Visa CEO refers to Bitcoin as “digital gold.” And the best part of all this is that he plans to integrate it on their platform. This will be another move towards making the currency a widely accepted entity.
What does Visa plan to do?
During the Q1 2021 earnings call, Visa CEO talked about Bitcoin and cryptocurrencies in general, and also about his plan is to integrate it into their payments platform like a valid currency. He referred to Bitcoin as “digital gold” because of its high value, and at the same time, it is not widely used as a payment method. And for that matter, it’s not just Bitcoin, but all cryptocurrencies are like “digital gold”.
The integration of Bitcoin in Visa’s payments platform will enable its users to purchase things worldwide using the currency. To make that happen, the company is working with many exchanges like cyrpto.com, Bitpanda, and more. The company is not only going to integrate Bitcoins in their payments platform but also make the use of the currency much safer. Visa will also enable the option for users to purchase bitcoins using their platform.
What does this mean for Bitcoin?
Even though Bitcoin is of high value, it is still not widely accepted. But with Visa’s integration and their 61 million merchants all across the globe, Bitcoin will become usable. And then the currency will be seen as an asset that can be used to purchase things, its value will increase even further. A while back, there was news that 2020 was the year of companies jumping into Bitcoin, and 2021 will be the year for banks.
And if that happens then, the prices that analysts gave of Bitcoin crossing $146,000 and even $400,000 might become true. The only thing that has to be dealt with, is the US regulations, which might pose problems for VISA. Recently the currency saw a price hike after Elon Musk tweeted about it. It also has subsided now and is currently trading at around $33,000. This is great considering the fact that the currency just dipped below $30,000 a while back and didn’t crash further.
Do you think that referring to Bitcoin as “digital gold” makes sense? And also what are your thoughts on Visa integrating cryptocurrency on their payments platform? Let us know in the comments below. Also, if you found our content informative do like it and share it with your friends.