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Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
bitcoin crypto visa

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

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
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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.

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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.

Related Reading | How Will Crypto Respond To Its Biggest Listing Yet? The United States

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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.

Related Reading | How Lengthening Crypto Cycles Conflict With Halving Driven Supply Theories

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.

Tags: bitcoinbtcbtcusdBTCUSDTcryptovisaxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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