Bitcoin is at a "tipping point," Citi says

Reuters2021-03-01

LONDON, March 1 (Reuters) - Bitcoin is at a "tipping point" and could either become the preferred currency for international trade or face a "speculative implosion," Citi analysts said.

With the recent embrace by the likes of Tesla Inc and Mastercard Inc , bitcoin could be at the start of a massive transformation in going mainstream, Citi said in a report.

The growing involvement from institutional investors in recent years contrasts with heavy retail-focus for most of the past decade, it added.

If businesses and individuals gain access via digital wallets to planned central bank digital cash and so-called stablecoins, the popular digital currency's global reach, traceability and potential for quick payments could see its use for commerce widen dramatically, Citi said.

The surge in interest drove bitcoin to a record high of $58,354 and a $1 trillion market capitalisation. It, however, pulled back more than $11,000 from those levels in the last week on questions over the sustainability of such high prices.

"There are a host of risks and obstacles that stand in the way of Bitcoin progress," Citi's analysts wrote. "But weighing these potential hurdles against the opportunities leads to the conclusion that Bitcoin is at a tipping point."

Bitcoin was trading 3.9% higher at $46,980 on Monday, up nearly 63% so far this year.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

  • PJoo
    2021-03-02
    PJoo
    Bitcoin wave will continue to come. But everyone is a bit nervous now. 
  • pinkishmin
    2021-03-02
    pinkishmin
    Go btc!!!
  • Jazling
    2021-03-02
    Jazling
    Comment pls
  • Jazling
    2021-03-02
    Jazling
    Wow
  • XDD890
    2021-03-02
    XDD890
    It's really make or break with bitcoin. Hopefully the bubble doesnt burst
  • Yakone
    2021-03-01
    Yakone
    Riot ftw
发表看法
30