When Elon Musk announced that “You can now buy a Tesla with Bitcoin,” he didn’t simply announce a newer method of acquiring an electric vehicle, but he suddenly turned Bitcoin into a currency that can be used for buying other things.
As Bitcoin’s price continued to rise, the finance world started to doubt again if it had the capacity of replacing other currencies.
But when someone like Musk presented their confidence in Bitcoin as a currency, the doubts disappeared for many, especially for mainstream audiences, which began to see Bitcoin as a more trusty asset.
Of course, Musk isn’t the only business leader to have expressed confidence in Bitcoin.
The boss of Uber, Dara Khosrowshahi, has also recently pointed out that Uber was taking into consideration using cryptocurrencies as a method of making payments: “Just like we accept all kinds of local currency, we are going to look at cryptocurrency and/or bitcoin in terms of currency to transact.”
Mastercard is another important name that showed support for the cryptocurrency as in February it announced that it planned to open its network for some cryptocurrencies, a move which the company said would permit consumers and merchants “to transact in an entirely new form of payment.”
The actions and words of these businesses point to one thing and that is Bitcoin becoming a form of payment that is accepted on a worldwide scale, sometime in the near future.
FOMO also plays an important role, which will only increase the impact that crypto has in the world.
Important companies accepting crypto will obligate governments to regulate bitcoin as the fintech world is slowly, but surely, taking over.