Here’s Why VISA’s Mentioning of Bitcoin Is Positive For the Space

Tony "The Bull" Severino

4 years ago

2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Pundits of cryptocurrencies and Bitcoin supporters alike all agree, that the biggest barrier to adoption is mainstream acceptance. It won’t be until crypto achieves VISA-level penetration that the asset class has a chance to replace cash.

But how fast does that happen if VISA themselves fully embrace the emerging asset class? Following the payments giant crediting Bitcoin for the birth of digital currencies and a pledge of support, we may soon find out.

Positive Momentum Building For Cryptocurrency Adoption Breakout Into Mainstream Finance

Although it is not reflected in the boring and stagnant price action, things could not be more positive for Bitcoin right now.

The cryptocurrency had a “no such thing as bad publicity” moment recently with a high-profile Twitter hack. Scammers hacked the accounts of Kanye and Kim Kardashian West, Joe Biden, Elon Musk, and several others to promote a Bitcoin giveaway scam.

Price action didn’t even flinch, and the crypto asset simply gained tons of exposure to over 300 million followers.

Just this week, the United States Office of the Comptroller of the Currency clarified its stance that all national banks could custody crypto assets for their customers. Not only is this essentially Bitcoin’s biggest listing ever, but it paves the way for banks supporting an eventual digital dollar.

Weeks ago, rumors that adoption could soon pick up further if rumors that PayPal and Venmo would offer crypto services come true. According to recent updates that the firm chose Paxos to supply the infrastructure adds credence to the claims.

The exposure of crypto assets like Bitcoin to the brand’s booming user base would do wonders for adoption, but not nearly as much as a major payments powerhouse “advancing its approach to digital currencies.”

VISA Mentions Bitcoin Directly By Name In Latest Report, Credits It For Birth Of Future Of Finance

If at first you can’t beat ’em, join ’em, the saying goes. And that appears to be what’s playing out in the world of finance lately.

Not only are nations in an arms race to debut the first native digital currencies to replace their fiat counterparts, but payments firms are finally catching on to crypto.

Following rumors of PayPal and Venmo preparing crypto buying and selling for the masses, VISA has now mentioned Bitcoin in a new report.

In an “innovation” report from VISA called “Advancing our approach to digital currency,” the company directly mentions Bitcoin.

VISA credits Bitcoin for the digital currency movement and asserts its commitment to growing its “network-of-networks to support new forms of commerce,” including cryptocurrencies.

With all of these positive situations stacking up for Bitcoin, the cryptocurrency may finally move from its sideways trading range and begin a new long-term uptrend.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.