The Wait Is Over, Bitcoin (BTC) Is Now Mainstream
In 1918Nicholas Klein addressed the Amalgamated Clothing Workers of America inBaltimore with a quote that best describes Bitcoin’s current journey tomainstream adoption. He said,
“And, my friends, in this story you have a history of this entire movement. First, they ignore you. Then they ridicule you. And then they attack you and want to burn you. And then they build monuments to you.”
No one isbuilding monuments to Bitcoin yet, because those who initiate such projects arebusy attacking and looking for ways to ban and burn Bitcoin.
CongressmanBradley Sherman, for instance, has proposed a bill that seeks to outlaw cryptotrading in the U.S. He called on Congress to “nip this in the bud,” which apparently, is not the firstopposing stance the congressman has taken against digital currencies.
Sherman reasoned that “… an awful lot of our global power comesfrom the fact that the Dollar is the standard unit of international finance andtransactions. Clearing through the New York Fed is critical for major oiltransactions.”
Well,Bitcoin Will Nip Global Economy Manipulation in The Bud
Sherman goeson to add that “… it is theannounced purpose of the supporters of cryptocurrency to take that power awayfrom us, to put us in a position where the most significant sanctions we haveon Iran, for example, would become irrelevant.”
In those fewwords, Mr. Sherman illustrates to the Congress why Bitcoin has such utility andactual value and why its mass adoption has become unstoppable. The manipulationof global politics via the Dollar is something crypto is going to make a thingof the past.
Elsewherethe Winklevoss twins’ Gemini and Flexa a startup focused on payments are in apartnership that could open wide the doors of crypto use in mainstreamcommerce. Flexa’s crypto app Spedn has beenintegrated into the payment scanners of big-name retailers such as Barrel, Crate,Whole Foods and Nordstrom.
In astatement, Flexa CEO Tyler Spalding said:
“This is the first real instance of decentralized global retail payments, with the power to make commerce more efficient and accessible for billions of citizens globally. The legacy payment systems are complicated and costly. This solution provides a way for cryptocurrencies to solve these problems and allow merchants to conduct inexpensive and fraud-resistant transactions.”
This willhelp crypto owners to pay for goods using Bitcoin, Ethereum, Bitcoin Cash orGemini Dollar. The real-time payment interface will pay merchants in fiat orcrypto as per their choice. Thanks to Flexa’s ecosystem, merchants will nolonger have to worry about real-time transaction clearances that once hamperedcrypto purchases.
LegacyFinancial Institutions Massive Moves for Bitcoin
Bitcoinprices are still on the rise, with their value now at 8,106. As moreinstitutional investors set their sights on Bitcoin, the bull run of the seasonmight be on. Massive Wall Street Wheeler-dealer Intercontinental Exchange application tothe U.S. Commodity Futures Trading Commission (CFTC) for their Bitcoin Futuresapproval looks imminent as “User acceptance testing for Bitcoin futures custody and trading planned for July.”
Bakkt’soperations have been hampered by a multitude of regulatory hurdles, but thefirm has its eyes now set on July as its launch date. Giant financial servicesfirm Fidelity Investment’s crypto trading platform is also in the pipeline. Theplatform is expected to be rolled out “within a few weeks” sources say. Fidelity’s platform is eyeing institutional investorsinterested in Bitcoin investments.
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