The signal bank that the cryptocurrency is located at an “inflection point” and has generated more confidence through large-scale inversions such as Tesla.
The bitcoin showed a crime this month, contributing upwards of $ 49,200, according to which Citi publishes an information on which the digital currency market will be converted into the “preferred currency for international trade”.
Citing interest rates bitcoin for large companies, as the recent investment of 1,500 million dollars from Tesla and its acceptance as payment form for PayPal, Visa and Mastercard, among other examples, the bank concludes that the cryptocurrency is a “point of inflection” and could be at the instigation of a “massive transformation” in the dominant payment method.
“The entry of institutional investors has led to the confusion in cryptocurrency, but there are persistent problems that could limit its extended adoption,” said Citi, noting that bitcoin has presented risks and is becoming increasingly obsolete. “The developments in the courtroom are likely to result in decisive results, as the currency is balancing at the point of inflection of acceptance extended by a speculative implication,” the authors of the report write.
According to Citi, at the moment the preoccupations of institutional investors with respect to bitcoin are shifting towards capital efficiency, security, custodia, security and ESG considerations regarding the digital world, which abreast ambient, social criteria and corporate governance.
The bank’s specialists are also reconciling that the cryptocurrency is not a solution to the security issues, but consider that, as far as it goes, it compares to traditional payment methods.