You have to admit it — cryptocurrency has come a long way in the past decade.
Even in just the last few years, there has been a massive amount of attention drawn to Bitcoin and other cryptocurrencies.
Just last Wednesday, Bitcoin hit an all-time high of $67,000. Then this Monday, it was rising toward $63,000.
This Bitcoin surge comes after the first U.S. Bitcoin futures exchange-traded fund — ProShares Bitcoin Strategy ETF (BITO) — debuted last week. BITO quickly got on the list for the top 10 ETFs that were most traded during its trading debut.
Ben Johnson, the director of global ETF research for Morningstar, had this to say:
The original intent [of Bitcoin], and certainly still the intent of many, was to try to upend traditional finance. Instead, traditional finance has caught Bitcoin in its tractor beam, reeled it in, and turned it into something that Wall Street is going to make millions if not billions on by creating this whole new ecosystem.
And that’s exactly what has been happening — a new ecosystem and economy are being created for the cryptocurrency market.
The cryptocurrency market has persevered despite the constant critiques from “experts” over the past few years saying that cryptocurrencies were very speculative. But if you think about it, what doesn’t possess some type of risk?
Getting in my car every day to come to work is a risk, but I still take that risk so I can make an income. I invest, and even if I’m confident and comfortable with the choices that I make, there’s still some level of risk.
Life is risky. Making money is risky.
Eventually, you’ve got to weigh those pros and cons and then maybe take that risk because it could pay off.
Companies like Mastercard (NYSE: MA) and Visa (NYSE: V) have weighed the pros and cons and have decided that the best future for their companies is to embrace cryptos and integrate them into their services.
According to a report by Research and Markets, the global cryptocurrency market reached $364 billion in 2020 and is expected to grow at an astounding CAGR of 60.8% from 2021–2026.
The decisions that a company like Mastercard is making are calculated.
The company wouldn’t make a decision that it wasn’t going to benefit from now or in the future. And Mastercard sees a future for itself that includes cryptocurrencies.
When 2 Worlds Collide…
Mastercard announced on Monday that the thousands of banks and millions of merchants that are on its payments network will soon have the ability to integrate crypto into their consumer products.
Mastercard’s payments network is set to partner with Bakkt (NYSE: BKKT).
Bakkt is a global digital asset platform for trading, warehousing, and commerce. Last week, Bakkt became a publicly traded company and this week shares are surging on the news of the partnership with Mastercard.
Joining forces with Mastercard will make it easier for merchants, banks, and fintechs in the U.S. to offer a variety of cryptocurrency solutions and services to its customers. Solutions and services like issuing their own branded crypto debit and credit cards to interested consumers.
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Mastercard’s executive vice president of digital partnerships said this about the partnership:
We want to offer all of our partners the ability to more easily add crypto services to whatever it is they’re doing. Our partners, be they banks, fintechs, or merchants, can offer their customers the ability to buy, sell, and hold cryptocurrency through an integration with the Bakkt platform.
According to the company, it has partnerships with more than 20,000 financial institutions around the world, and there are 2.8 billion Mastercards in use. That’s a lot of people who will now have access to cryptocurrencies.
Bakkt’s CEO, Gavin Michael, mentioned how the partnership will also give the option for merchants and restaurants to offer rewards in Bitcoin instead of traditional points. This is a big introduction to cryptocurrencies for a lot of people using Mastercard who otherwise probably would never even think twice about cryptocurrencies.
This partnership between Bakkt and Mastercard could significantly help grow and mature the current crypto economy, giving everyday people the chance to familiarize themselves with cryptocurrencies and how to use them.
I believe this partnership indicates that the cryptocurrency market could very well continue to exist in the decades to come.
Why else would a company like Mastercard partner with a company like Bakkt at this time? There has to be a big future for the crypto market, and Mastercard doesn’t want to miss out on any opportunity to be a leader or to benefit.
6 Cryptos Set to Soar as the Crypto Economy Grows
Knowing that the cryptocurrency market could continue to grow and be viable in the future raises the question of what will be the next cryptocurrency (or cryptocurrencies) to lead the way.
Well, you’re in luck. Consider reading this article as being at the right place and time, because today, you have the chance to discover a crop of revolutionary cryptocurrencies that are on the verge of greatness.
These six cryptocurrencies have the chance to reshape the crypto world and your future.
Given what I talked about with Mastercard and its decisions to move forward with incorporating cryptocurrencies, I think it’s safe to say that the crypto market is just getting started.
I don’t want to see you regret not taking the time today to learn more about these six cryptocurrencies, especially before mainstream investors and media get ahold of them.
That’s why you’re here, after all, right? To discover wealth opportunities.
Until next time, Monica Savaglia Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter IPO Authority, a one-stop resource for everything IPO. She also contributes regularly to the Wealth Daily e-letter. To learn more about Monica, click here.
Until next time,
Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter IPO Authority, a one-stop resource for everything IPO. She also contributes regularly to the Wealth Daily e-letter. To learn more about Monica, click here.