Not Bakkt and ETFs: what will be the real reason for the growth of Bitcoin?
Source:Earlier, experts published a report according to which FINTECH startup Square has sold thousands in the amount of several million dollars for the whole of 2018. Since the launch of app Cash App the company has managed to earn over 166 million dollars on the sale of cryptocurrencies. Only in the fourth quarter of 2018, she managed to implemented the BTC the amount of more than $ 52 million.
Large numbers can not attract attention in cryptocommunist. Some experts even believe Square «sleeping giant» industry. According to them, the company can do to Bitcoin more than Bakkt and ETFs combined.
thewhy start here?
Trader sepsis Alec, has published a clear explanation of how Square is the stock market in better times. He said that Square was about 6.2 percent of all 162 000 BTC mined in 2018. For a company that does not focus their development on Bitcoin, this is a very good result.
Programmer Matt Odell supported the thoughts of Sypsnys. A month ago he said that the Cash App is one of the most popular apps in the US, but will also be one of the key triggers in the upcoming bullrun. The Internet is full of rumors about the potential integration outlets in the platform.
Square has the opportunity to make a larger impact on bitcoin adoption than both Bakkt and an ETF.
Here's some perspective:
162,000 bitcoin were mined last year.
Square sold an equivalent of 10,025 bitcoin last year.
That is roughly 6.2% of all new bitcoin in that time frame.
— Alec Ziupsnys (@AlecZiupsnys)
Earlier, Square CEO Jack Dorsey visited the podcast analyst Stephen Siphon, where he talked about the integration of the Lightning Network in the Cash App. In other words, this event definitely will happen, the question is, whether only time. According to Dorsey, LN will significantly improve the user experience of customers Square.
Finally, the founder of Twitter believes that Bitcoin really is a currency, not just an asset for speculating. The adoption of the Lightning Network in the world, only adopt that view.
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