{"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>

FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS\/Dado Ruvic\/File Photo<\/figcaption>

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

INVESTMENT<\/h2>\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

ACCEPTANCE<\/h2>\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>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Bitcoin, the world\u2019s first and<\/p>\n","protected":false},"author":3,"featured_media":112873,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nFactbox: Bitcoin's journey towards the mainstream - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/factbox-bitcoins-journey-towards-the-mainstream\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Factbox: Bitcoin's journey towards the mainstream - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – Bitcoin, the world\u2019s first and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/factbox-bitcoins-journey-towards-the-mainstream\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-15T10:36:21+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/cnewsfotor14-2.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/factbox-bitcoins-journey-towards-the-mainstream\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/factbox-bitcoins-journey-towards-the-mainstream\/\",\"name\":\"Factbox: Bitcoin's journey towards the mainstream - 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