The Impact of Cryptocurrency Adoption on Government
Ireland, May 19, 2021 - (ACN Newswire) - Cryptocurrency use is growing exponentially, and governments may want to consider the benefits. Why are blockchain and cryptocurrency so popular right now? Why have business whales and finance execs invested large cash reserves into cryptocurrency? They hope to benefit from this colossal opportunity. Visual Capitalist, in an April 2021 article, remarks that Bitcoin, compared to other tech companies, is the fastest asset to reach a $1 Trillion market cap.
In March of 2020, Bitcoin s price was coming in at around $3K. As of May 11, 2021, Bitcoin was $56,551.44. Per coin. And Bitcoin is only one of over 4,000 cryptocurrencies according to Investopedia in a January 2021 article. This growing trend presents a new challenge for governments.
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