{"id":112874,"date":"2021-02-15T10:36:21","date_gmt":"2021-02-15T10:36:21","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112874"},"modified":"2021-02-15T10:36:21","modified_gmt":"2021-02-15T10:36:21","slug":"factbox-bitcoins-journey-towards-the-mainstream","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/factbox-bitcoins-journey-towards-the-mainstream\/","title":{"rendered":"Factbox: Bitcoin's journey towards the mainstream"},"content":{"rendered":"
(Reuters) – Bitcoin, the world\u2019s first and most famous cryptocurrency, has shot to record highs as it gains legitimacy as an asset.<\/p> Much of those gains have been fuelled by interest from big U.S. institutions.<\/p>\n Here are some steps from big companies, large investors, banks and payment processors that have shifted bitcoin closer to the mainstream in recent months:<\/p>\n May 2020:<\/p>\n * Fund manager Paul Tudor Jones makes the case for bitcoin as a store of value.<\/p>\n Aug. 2020:<\/p>\n * Michael Saylor-led business software firm MicroStrategy announces purchase of 21,454 bitcoins for $250 million, the first of several investments in the cryptocurrency.<\/p>\n Nov. 2020:<\/p>\n * Billionaire investor Stanley Druckenmiller and BlackRock fixed-income chief Rick Rieder make positive public comments about bitcoin as a gold alternative.<\/p>\n Jan. 2021:<\/p>\n * Investment bank JPMorgan Chase & Co says bitcoin could hit $146,000 if it becomes an established safe-haven.<\/p>\n * Weekly flows into crypto funds and products hit a record $1.3 billion and total investment scales a new peak of $34.4 billion, according to asset manager CoinShares.<\/p>\n Feb. 2021:<\/p>\n * Carmaker Tesla Inc announces it bought $1.5 billion in bitcoin and says it will soon accept the cryptocurrency as payment for its vehicles.<\/p>\n * Bitcoin owners now include 169-year-old insurer MassMutual, asset manager Galaxy Digital Holdings, Twitter CEO Jack Dorsey\u2019s payments firm Square, Canadian software company Snapper and coin miners Marathon and Argo.<\/p>\n July 2020:<\/p>\n * U.S. banking regulator, the Office of the Comptroller of the Currency, says national banks and federal savings associations may provide cryptocurrency custody services<\/p>\n Oct. 2020:<\/p>\n * Payments processor PayPal allows customers to hold bitcoin in their digital wallets and use it to shop at the 26 million merchants on its network.<\/p>\n Feb. 2021:<\/p>\n * Mastercard discloses plans to support cryptocurrency payments across its network.<\/p>\n * BNY Mellon announces a new unit aimed at helping clients trade and own cryptocurrencies and other digital assets.<\/p>\n * Toronto-based asset manager Purpose Investments launches the world\u2019s first bitcoin exchange-traded fund.<\/p>\n * The parent company of Japan\u2019s biggest online brokerage, SBI, says it plans a crypto joint-venture with foreign financial firms.<\/p>\nINVESTMENT<\/h2>\n
ACCEPTANCE<\/h2>\n