It has been almost a decade that Bitcoins have been circulating in the market. Since it was introduced back in 2008, it has always triggered controversies across the world. Even after so many years of being in the market, many governments around the world have still not recognized it as a proper currency.
The US treasury has however identified Bitcoin as a mode of virtual currency and is commonly considered as the world’s first cryptocurrency with a total market value of $19.5 billion. But many countries have outright banned the use of Bitcoin.
- Are Bitcoins getting more popular?
On the brighter side, well-known and global companies that include Apple, Overstock, Subway, Reddit, Microsoft, Dell, Tesla, Bloomberg.com, GAP, and many other companies have started to accept Bitcoin as a legit payment option in many parts of the world. People can pay their bills by using Bitcoin without any hassles.
The exact popularity and growth of this virtual cryptocurrency are still under observation. But with thousands of merchants and global vendors accepting it as an official payment method shows that some progress is finally being made.
According to a recent survey, the total number of vendors accepting bitcoin has increased by four times between 2014 to 2016. That is a really significant change in the success of Bitcoins.
- What does the future hold?
It is going to take a long time before Bitcoins can become a popular global currency. The lack of proper regulation on Bitcoin and a few other concerns turn out to be the obstacles in its path of success. Further advancement in technology and its influence on the markets will surely make Bitcoins much more popular than they are right now. Want to know more about Bitcoins then hier klicken.