bitcoin gold rush, bitcoin mainstream, crypto mainstream, dow jones, here to stay, S&P bitcoin, S&P cryptocurrency, S&P global bitcoin

S&P Global says cryptocurrencies have become mainstream and appear to be here to stay, as more companies are offering crypto services and adoption is growing worldwide. Meanwhile, an S&P analyst believes that bitcoin’s rise is reminiscent of the U.S. gold rush.

S&P Global Says Bitcoin Has Become Mainstream

Financial information and analytics firm S&P Global released a special report on the current condition of cryptocurrencies last week. It states:

The report references a number of factors, such as legacy banks taking “a closer look at the asset class that could be integrated into the products and services offering†and companies like Paypal beginning to offer cryptocurrency services. Crypto adoption is also growing in countries where people “seek to protect their income against inflation and currency controls†or for faster and cheaper remittances.

In addition, Jim Wiederhold, S&P Global’s associate director for commodities and real assets, authored an opinion piece about bitcoin last week. He wrote:

The analyst explained that “Recently, the parallels between the two assets have grown.†He noted that both are scarce, “have the potential to be held outside of conventional financial markets,†and are good inflation hedges. In addition, they are “uncorrelated to other popular asset classes in portfolios.†However, he pointed out that bitcoin’s volatility over the past five years is multiple times higher than other asset classes.

Pointing out the differences between gold and bitcoin, including the supply limit, he continued, “Concerns of bitcoin theft were rampant a few years ago; though as bitcoin becomes more mainstream, these worries are fading. Although lingering technology and exchange counterparty risks remain.â€

The analyst concluded that while gold is a more established asset, bitcoin “is in its infancy, but it is slowly becoming more easily accessible to mainstream investors.â€

According to the S&P Global special report:

Do you think bitcoin has become mainstream? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

S&P Global: Cryptocurrencies Have Become Mainstream and Are Here to Stay, Bitcoin Reminiscent of Gold Rush

S&P Global says cryptocurrencies have become mainstream and appear to be here to stay, as more companies are offering crypto services and adoption is growing worldwide. Meanwhile, an S&P analyst believes that bitcoin’s rise is reminiscent of the U.S. gold rush. S&P Global Says Bitcoin Has Become Mainstream Financial information and analytics firm S&P Global […]

Xem chi tiết: S&P Global: Cryptocurrencies Have Become Mainstream and Are Here to Stay, Bitcoin Reminiscent of Gold Rush

Stablecoin Issuer Tether Says It Is a Victim of a 500 BTC Ransom Demand Infoleak Threat

Just days after the conclusion of its long-running feud with the Office of the Attorney General of New York, Tether says it is now a victim of an extortion attempt. According to the stablecoin issuer, the blackmailers are threatening to release documents they claim “will harm the bitcoin ecosystem†if their demand for the payment […]

Xem chi tiết: Stablecoin Issuer Tether Says It Is a Victim of a 500 BTC Ransom Demand Infoleak Threat

Spanish Court Orders the Investigation of Possible ‘Computer Fraud’ on Bittrex Exchange After a User Loses 1.3 BTC

A Spanish Court has issued an order compelling a division within the country’s police to investigate the possible existence of “computer fraud†on the Bittrex cryptocurrency platform. The order was issued following the filing of a complaint by a Tenerife based Bittrex user who claims to have lost 1.3 BTC (or $58,000) that was stored […]

Xem chi tiết: Spanish Court Orders the Investigation of Possible ‘Computer Fraud’ on Bittrex Exchange After a User Loses 1.3 BTC

Chiliz $CHZ Growth Continues With Trio of New Listings

press release Chiliz $CHZ – the digital currency for sports and entertainment – has announced listings on the Bitcoin.com Exchange, HitBTC and Changelly platforms. Chiliz is the on-platform currency of fan engagement platform Socios.com, which is built on the Chiliz blockchain infrastructure. Socios.com allows sporting and entertainment organisations to monetize their global fanbases through digital […]

Xem chi tiết: Chiliz $CHZ Growth Continues With Trio of New Listings

Online Retail Giant Rakuten Allows People to Load Payment App With Cryptocurrencies

The firm Rakuten Inc., often referred to as “the Amazon of Japan,†announced customers can now load up Rakuten Pay accounts with cryptocurrencies like bitcoin, ethereum, and bitcoin cash. In order to commemorate the latest crypto service, Rakuten is also offering bonus points to people leveraging “Rakuten Cash†via crypto assets. Crypto Can Pay for […]

Xem chi tiết: Online Retail Giant Rakuten Allows People to Load Payment App With Cryptocurrencies

Mad Money’s Jim Cramer Has a Plan to Save Gamestop With Bitcoin

Mad Money host Jim Cramer thinks he has a solution to save troubled video game retailer Gamestop with the help of bitcoin. He suggests that Gamestop should raise money to buy the cryptocurrency, then convert its 5,000 locations into bitcoin stores. He believes his idea will work. Jim Cramer Has Idea to Use Bitcoin to […]

Xem chi tiết: Mad Money’s Jim Cramer Has a Plan to Save Gamestop With Bitcoin

Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has begun investing in bitcoin. Having previously called the cryptocurrency “garbage,†he has now changed his mind and believes that cryptocurrencies are here to stay. He is also getting used to the volatility of bitcoin and believes that institutional investors are willing to hold through price fluctuations. […]

Xem chi tiết: Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

Stone Ridge’s Open-End Mutual Fund to Invest in Bitcoin — SEC Filing Opens the Door for Other Mutual Funds to Add BTC

Asset management firm Stone Ridge has filed with the U.S. Securities and Exchange Commission (SEC) for its open-end mutual fund to invest in bitcoin. “This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin,†said a fellow asset manager. Stone Ridge Wants Its Mutual Fund to Invest […]

Xem chi tiết: Stone Ridge’s Open-End Mutual Fund to Invest in Bitcoin — SEC Filing Opens the Door for Other Mutual Funds to Add BTC

Bearish Outlook as Bitcoin’s Seven-Day Average Sinks 25%, ADA Shines During the Storm

20 Bitcoin Block Rewards from 2010 Moved Today, Mystery Miner Spent $400 Million in BTC Since Black Thursday

177-Year-Old Swiss Bank Bordier to Offer Bitcoin and Other Crypto Trading Services

Coinbase Files for IPO via Direct Listing on Nasdaq — Valuation Soars Above $100 Billion

Crypto Users Claim Popular Bitcoin Paper Wallet Generator Is Compromised, Millions Allegedly Stolen

From Gold to Greenbacks: A Look at the US Dollar’s Devaluation, Manipulation and Militant Backing

Report: Asia’s Cryptocurrency Landscape the Most Active, Most Populous Region ‘Has an Outsize Role’

JPMorgan Says Investors Can Put 1% of Their Portfolios in Bitcoin Despite Calling It a Poor Hedge

Other Articles