Despite a slight drop in BTC exchange rate we have observed in recent weeks, cryptocurrency enthusiasts are mostly quite optimistic about the future of Bitcoin.
CoinTelegraph experts say we all have good reasons for that.
The growing number of BTC transactions
Bitcoin payments might be gaining popularity owing to the crypto-currency integration by large companies and suppliers of various goods and services, as well as online stores and physical outlets/retailers. Dell, Dish Network and Overstock have been accepting bitcoins for several months now.
Business and technology
Over the last years, huge steps have been taken to contribute to the development of Bitcoin-based business and venture capital. While large investments in such companies may become of lesser importance in the near future, currently they are very critical for the future of Bitcoin. Venture capital will have a huge impact on the development of Bitcoin business. Professionals are expected to help develop and maintain Bitcoin infrastructure, as well as make its production and usage more efficient. New financial tools and technologies would enable BTC companies to come up with new services and products for trade. The range of electronic devices supporting Bitcoin wallets is growing constantly, which stirs up the public’s interest to bitcoins. As Bitcoin is distributed worldwide, new BTC foundations and communities of Bitcoin developers, lawyers etc. are established on all continents. People team up to make bitcoin more accessible to everyone, and easier to use. Bitcoin start-ups are headhunting talent. Silicon Valley veterans leave their jobs to get involved with virtual currency development and share their experience, knowledge, and innovative ideas. And that’s another indicator of Bitcoin progress.
Legal regulation of Bitcoin has been paid a lot of attention to many governments. In 2014, a number of important legislative decisions concerning the legal status of Bitcoin and its taxation have been made. Cryptocurrency-friendly laws are elaborated in many countries, and the public gets used to hearing more about bitcoins. Clear statement of what’s allowed and what isn’t is important for businesses and venture capitalists.
Bitcoin in media and on the Internet
It’s not so long ago that various authoritative publications and Internet portals avoided bringing their readers any news on Bitcoin. Now this trend is on the decline, and Bitcoin news is no longer associated with scandals and frauds. The global audience of Bitcoin-themed Internet portals is growing every day, reflecting the increased interest of people in the digital currency. The ratings of the largest BTC websites are more than just impressive. Twitter (with 550+ thousand #bitcoin tweets over the last month) and other social networks have become a powerful platform for the promotion of BTC; celebrities and prominent entrepreneurs mention the cryptocurrency in their blogs. The continuing popularity of Bitcoin contributes to its viability.