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The crypto industry’s current market capitalisation of $1.84 trillion demonstrates its potential in the financial scene.
Michael van de Poppe, a financial strategist and broker, predicts that cryptocurrency would be a major turning stone to many people’s money. He elaborated:
“Crypto is going to make many people wealthy. Do something good with the money, build the world further in a positive way. That’s what we all need.”
It seems that the days of avoiding the crypto business are over. Jesse Powell, the co-founder and CEO of leading American crypto exchange Kraken, has pointed to this. He claims the industry is only in the early stages of universal acceptance.
The growth of Bitcoin ETF applications lends credence to Powell’s claim that the crypto industry is entering the early stages of mainstream acceptance. For example, Fidelity Investments Inc. recently received permission from the US Securities and Exchange Commission to open an exchange-traded Bitcoin fund.
Crypto’s market cap might double in the next 2 to 3 months
According to Real Vision Group CEO Raoul Pal, there is a likelihood for the crypto market’s value to double in the next two to three months. He acknowledged:
“The market cap of the entire digital asset space feels like the break of $1.8trn is kind of a big deal. The chart pattern suggests acceleration lies ahead on that break. My guess is the whole space doubles in the next 2 to 3 months.”
Based on some of the notable advances, crypto mass acceptance may be on the horizon. For example, payment giant Visa has announced that it would allow transfers using USD Coin (USDC). Furthermore, there is a chance that General Motors will join Tesla in accepting Bitcoin payments in the future.
This detail was disclosed on a conference call for General Motors’ fourth-quarter results. Mary Barra, the company’s CEO, announced that the automaker was considering embracing bitcoin as payment.