Analysts at the American investment bank Citigroup believe that Bitcoin finds itself at a defining moment in history since it could be at the “tipping point” to either become the most popular currency used for international trade or face a “speculative implosion.”
Reuters reported today that Citi analysts believe strongly that Bitcoin is close to actually going mainstream. The report mentions the incredible potential that the King of Crypto has after Tesla and Mastercard have associated themselves with it.
“There are a host of risks and obstacles that stand in the way of Bitcoin progress. But weighing these potential hurdles against the opportunities leads to the conclusion that Bitcoin is at a tipping point,” the report mentions.
The analysts also believe that mainstream adoption of Bitcoin could actually be propelled by the development of CBDCs or fiat-pegged stablecoins.
Some experts believe that global regulation may represent one of the biggest hurdles for the adoption of Bitcoin by institutional investors. Rebecca Patterson, the director of investment research at Bridgewater, commented a week ago that regulatory certainty around Bitcoin would surely solve some of the biggest issues faced by cryptocurrency.