![]() “Bitcoin is also evolving as the ‘North Star’ in the digital asset space and is a compass for the evolution of a broader ecosystem of crypto commerce,” Boyle said. Kathleen Boyle, managing editor at Citi GPS, argues that the currency has amassed a market cap of $1 trillion within seven years of its existence - a formidable feat that makes it potentially a viable alternative currency. More than 12,000 bitcoins ATMs have popped up over the past year, while Toronto-based Purpose Investment launched the world’s first bitcoin ETF last month.īitcoin was trading up 5.7 per cent at US$47,834 this morning.Ĭitibank thinks that “developments in the near term are likely to prove decisive as the currency balances at the tipping point of mainstream acceptance or a speculative implosion.” is keeping some of its corporate treasuries in bitcoin. are now accepting the virtual currency, while Tesla Inc. Bitcoin, that inexplicable cryptocurrency with mysterious origins, is gaining acceptance in Wall Street even as many other financial institutions remain skeptical.Ĭompanies such as PayPal Holdings, Inc., Visa Inc.
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