How Bitcoin adoption will affect your online store
Everyone is keeping their eye out on what the next new tech trend will be. We have seen a large amount of buzz from disruptive AI to the NFT craze and the rise of the Metaverse. As we step into a new year, everyone's buzzing about what's next on the tech horizon. Amidst the excitement, there's a recent development tha shouldn't be missed – the approval of the Bitcoin Exchange-Traded Fund (ETF).
In a significant move that has sent ripples through the financial world, the approval of a Bitcoin ETF is a pivotal moment in the acceptance of crypto. The approval of a Bitcoin ETF offers a more regulated and secure route for investors to gain exposure to the world of digital assets and will allow cryptocurrencies to see more adoption and approval going forward with both the bigshots and everyday individual. Naturally this nod towards institutional adoption will further introuduce an array of financial products and services centered around crypto.
Going back to 2021, the stock market was shaken by a small army of young investors using trading apps to pump and dump their favourite stocks. The most significant was the GME memestock play which saw the collapse of several investment firms holding shorts. Around the same time was the crypto bull run which saw the emergence of investors since buying and selling digital assets was easier than ever before thanks to these friendly apps. This very sudden and quick development in the crypto space saw many capitalising on the popularity by incorporating crypto payment gateways, the likes of Bitpay, into their e-commerce storefronts. This would have only escalated with Tesla's very own Elon Musk announcing the meme asset 'Dogecoin' as being accepted as a valid payment for the hot electric vehicle of the time.
Crypto is either loved for its decentralised tech or revered as a fake asset. Nevertheless, this year we can expect to see crypto payment gateways be introduced as Visa continues it's move towards crypto adoption with their newest partnership with Transak to allow crypto withdrawls and payments through Visa direct.