Bitcoin is at a ‘tipping point’ in international trade, Citi says
Mainstream adoption is within Bitcoin's grasp, according to Citi analysts. The world’s largest cryptocurrency, Bitcoin (BTC), is at a defining moment in history, according to analysis from American investment bank Citigroup.Bitcoin is now at a “tipping point” to either become the preferred currency for international trade or face a “speculative implosion,” Citi analysts reportedly said.According to a Reuters report Monday, Citi analysts are confident that Bitcoin is on the cusp of going mainstream. According to the report, Bitcoin’s tremendous potential has been fueled by recent big....
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Citigroup says bitcoin is at a tipping point and the cryptocurrency could become “the currency of choice for international trade.” The firm wrote in a report that “we could be at the start of massive transformation of cryptocurrency into the mainstream.” Bitcoin Is at the Tipping Point, Citi Says Citigroup’s Global Perspectives & Solutions (GPS) team released a 108-page report Monday entitled “Bitcoin At the Tipping Point.” The Citi GPS report explains that “the biggest change with bitcoin is the shift from it being primarily a....
Out of the 2000 responders, 24% revealed interest in investments in tokens or NFTs in 2022, which highlights a “critical tipping point” for token adoption. A survey on investors across the United Kingdom has revealed a growing interest in the new asset classes that threaten to overshadow traditional finance — driven by factors such as ease of access and an adolescent crypto market. Among the 2000 UK residents that were surveyed by OnePoll via Tokenise, 81% of the responders chose tokens as the safer and more secure alternative to traditional investments such as gold, oil, shares and real....
The United Kingdom, is often one of the friendlier places when it comes to Bitcoin legality, especially when compared to US regulation, such as the New York BitLicense. Citi, a global banking and financial corporation, recommended that the UK take its acceptance one step further with the creation of a UK cryptocurrency. In a document submitted by Citi to the British government, Citi noted the risks involved with digital currency. However, Citi also mentioned the untapped possibilities that digital currencies like Bitcoin can offer:
Multinational banking giant Citigroup has been looking at Bitcoin's distributed ledger technology for "the last few years" and has amassed a skilled team, Ken Moore, Head of Citi Innovation Labs told IBTimes UK during a tech briefing. Moreover, Citi has constructed three blockchains and a test currency called Citicoin to flow through them; a framework parallel to Bitcoin and the blockchain. Moore confirms that these blockchains and Citicoin are well confined within the group's innovation labs and there is no real money involved as of yet. Since the technology developed by Citi is based on....
Banking giant Citigroup, has developed 3 blockchains and a test cryptocurrency dubbed 'Citicoin' to run across them. The bank wants to make sure it is "at the leading edge of [distributed ledger technology]" so it can "exploit the opportunities within it." According to Ken Moore, head of Citi Innovation Labs, Citi has been looking at blockchain technology for "the last few years" and has developed "an equivalent to bitcoin" within its labs while mining what it calls "Citicoin." "We have up and running three separate systems within Citi now that actually deploy blockchain distributed ledger....