Square’s $ 50 million investment in Bitcoin, has been the most important announcement about cryptocurrency. Making such an investment by Square Inc. may be the beginning of a new era for cryptocurrencies that have lost value for a long time. After this investment, an intense increase in cryptocurrency demand is observed in the market. The value of bitcoin, almost all of which was transferred to personal accounts with mining and has a growing competition with other cryptocurrencies, has been declining for several years due to these two main reasons. Despite the sudden increases, the missing confidence in the market caused the investment to decrease. Square, which has the right investments with its financial moves, surprised everyone with this kind of investment. It proves that the expectations for the technology to dominate the markets are actually not very utopian. Traded at $ 13,140, Bitcoin is expected to approach the $ 15,000 limit in the short term. Jack Dorsey, who is also the CEO of Twitter with Square Inc., has a critical position for technology from this point. For this reason, he can be brave about innovative moves and can use the data of the two companies for the right investments, as he has the necessary infrastructure.
The Future of Cryptocurrency
Today, when there are more than five thousand coins, this number continues to increase without slowing down. However, according to many analyzes, the cryptocurrency is still not in a position to give the desired confidence. Although it is in its infancy, companies make early investments, which constantly increases people’s interest in this field. Not only with this interest, many people prefer cryptocurrency when they need alternative payment methods. Although the main reason for this is that cryptocurrency cannot be traced, also another reason for this need for commercial imbalances. The dollar started the year with a huge decline, followed by large fluctuations in the money markets, increasing the rate of commercial use of the coin. Establishing private companies for cryptocurrency transfers and increasing the ease of use of systems are supporting reasons. The increasing possibilities of using it as a normal currency are hints that cryptocurrency will become stronger than many governmental currencies in the not too distant future. However, the large number of cryptocurrencies that can be created with very simple procedures is one of the biggest obstacles to this. Failure to fulfill the necessary legal and financial arrangements means that it will never be suitable for official use.