The crypto space has seen high tides this month. Consecutively, netizens believe this September to be more treacherous than it has been previously. People well versed with the industry, mind very little with the crackdown in China. And the proposal of the U.S infrastructure bill. As the institutional belief is ever rising despite the regulations.
While newbies concern over the crackdown in China, enthusiasts believe the crackdown is no surprise. And is one among other bans like Google, Facebook, Twitter, among others. Similarly, netizens believe Bitcoin will recover from the crackdown.
Adoption of Bitcoin Is Icing on the Cake for Investors
Morgan Stanley is an investment bank and financial service company. The firm continues to increase its exposure to Bitcoin through Grayscale’s BTC trust. A recent filing with the U.S SEC suggests that. It has bought an additional 58,116 shares of GBTC. The management believes the digital asset can resist market disorders and prosper over other asset classes.
The CEO of JP Morgan chase Jamie Dimon. Mentions that Bitcoin price could moon 10X in the next five years. A statement from an influential person, who is not quite a fan of the system. Calls for a moment to appreciate, how far the asset has come. Thousands of Verifone merchants will now be able to accept Bitcoin as a payment in the U.S.
Meanwhile, the Chivo wallet has more users than any bank in El-Salvador. An achievement in just three weeks of its inception. It is expected that the wallet will hold more users than all of the banks put together. Bitcoin lightning network on the other hand has hit a new ATH capacity. In terms of the number of nodes count, channel count, and channel capacity.
Another exciting news for crypto enthusiasts is that Coinbase will enable users to deposit paychecks directly in crypto. The crypto exchange will enable U.S users to deposit all or part of their paychecks. In crypto or dollars without any charges. Moreover, users can get paid in any of the 100+ cryptos available or in USD. This is relief over the infrastructure bill concerns.
Summing up, the digital coin has been receiving phenomenal adoption from institutions. Although the price doesn’t seem to be influenced, it surely is beneficial in the longer run. The whale accumulation rise is on a steep too. Hopefully, BTC’s price hits its target of $63,000 this October. Following a bull run for the fourth quarter.