Bitcoin just went mainstream – can price really reach 100K USD ? The most famous cryptocurrency – Bitcoin – has just went mainstream since Tesla just invested $1.5 billion in bitcoin. The company wishes to increase their flexibility on financial assets and diversify their investment portfolio. The company stated it understands the market volatility of crypto currencies.
Tesla issued another statement – that it it will start accepting BTC for payments. Having that alignment from a major company might just help BTC become a mainstream currency. The move is controversial but it denotes the desire to normalize a traditionally speculative asset. The overall general consensus is that in the future it will become an established transactional security.
A provocative decision
Since this is Musk we’re talking about – his move will no doubt cause repercussions. His company know will inadvertently inherit some of rallies and pitfalls of the volatile crypto currency. Tesla’s investors might be divided on the move. Nevertheless, the Tech company is witnessing 2% upside following the announcement. The market sentiment bullish, reactions are positive. Another catalyst is the overall implications of Bitcoin becoming mainstream and rallying another price surge.
Bitcoin to reach 100.000 USD?
Reaching all time highs of 43,000 USD coupled with other phenomenons as the one above, it’s safe to say that the crypto asset is increasingly seen more normal. We’ve seen governments incorporating cryptocurrencies, football players negotiating the payment of part of their salary in bitcoin or known analysts arguing for the future crypto price at 100K or 500K by the end of this year. The recent years where crypto assets where getting negative attention seem to be now forgotten.
The normalization of cryptocurrency
With this latest news, Bitcoin just went mainstream and it’s price might reach 100 L or more. This normalization process is still not yet understood by many. Some people still see it as a speculative asset, others have little knowledge of it. There is also the side which understands it’s potential and importance for normalization. Elon Musk falls within this camp. And Tesla’s decision to invest and accept Bitcoin as payment has pretty much paved the way for BTC to become mainstream.
Other crypto currency such as Cardano, ETH or Dogecoin have also received increasing attention lately: