Bittrex Global CEO says cryptocurrencies are no longer in early adoption August 13, 2021

The cryptocurrency trade started with the introduction of Bitcoin in 2009, which grew right into a busy trade with numerous belongings and blockchain-based options in the years that adopted. However, in keeping with Stephen Stoneberg, CEO of Bittrex Global, the sphere is no longer in its infancy.

“I think we are through the early stages of crypto adoption,” Stoneberg informed Cointelegraph, including:

“Cryptocurrency has now turn into mainstream. We have used double digit percentages in each developed and growing international locations. In one nation now we have even accepted Bitcoin as authorized tender, and lots of different international locations think about the acceptance of Bitcoin as authorized tender. “

The government of El Salvador officially approved Bitcoin (BTC) in June 2021, making the asset nationally legal. BTC’s green light in El Salvador means companies must approve the asset as a means of payment in the region.

“We’re also seeing big changes on a commercial level,” Stoneberg said, later citing recent crypto-friendly developments from AMC and Venmo. Starting in 2022, AMC moviegoers will be able to pay for their tickets in Bitcoin if everything goes according to the theater chain’s plan. Thanks to a new feature recently released by Venmo, Venmo credit card users also have the option to deposit cashback rewards directly into crypto assets. Stoneberg talks about the development of AMC and Venmo.

Related: Crypto’s total market value breaks 1.9 tons for the first time since May

“From a retail perspective, we’re seeing crypto adoption skyrocketing around the globe,” said Stoneberg. He added:

“The introduction of Bitcoin in many developing countries was in the double-digit percentage range, but has now also increased from single-digit to double-digit percent in the USA. More interesting to see is the growth and acceleration of institutional adoption of cryptocurrencies. Almost all large institutions have invested in crypto or are planning to invest in crypto. “

Bitcoin has turn into a way more fashionable funding, with a number of giant firms comparable to Microstrategy investing in the asset.