Bitcoin is on an unwavering journey to dethroning some of the world’s largest finance and technology companies. The leading asset recently hit $1 trillion in value and simultaneously unseated companies like PayPal, Mastercard, etc. Bitcoin investors have now begun cashing out more than investors who stashed their cash in traditional companies.
Bitcoiner Anthony Pompliano observed that Bitcoin has generated a return on investment that is worth $712,500 more than when they made their first venture. This is over $692,500 what the giant U.S transportation network company Uber, generated for its investors in profit.
In the last 10 years, it remains mind-blowing to see Bitcoin, the new-comer technology unseating mainstream companies.
Bitcoin’s performance for the next ten years would be unimaginably bullish. It is interesting to see that these companies are also creating spaces for their users to access Bitcoin through payments.
Bitcoin outperforming traditional fintech companies
Bitcoin will continue to maintain its status as a leading asset in both the crypto and traditional finance space, should more companies integrate the asset into their business framework.
There’s a possibility that this is already in motion as Coinbase is rumored to have secured some of these firms as clients interested in purchasing the asset. Asides from the commendable ROI Bitcoin is generating for investors, cryptocurrency firms are also expected to surpass traditional companies in revenue and profit.
“Many bitcoin and crypto companies will surpass the valuations of legacy financial institutions in the next 24 months. You are about to watch Wall Street titans crumble at the hands of technologists building open source, decentralized software.” Pomp asserts.
Fighting the government to stay afloat
It is important to note that although those companies have the potential to surpass existing fintech companies, there are multiple hurdles that could potentially clampdown on the growth of these crypto firms.
For developing countries like Nigeria and India whose governments have been stringent on cryptocurrency, strategizing and creating a different pathway for the companies to stay afloat would be crucial for its sustainability in the years to come.