Paid for something in cryptocurrency these days? The worth of a single bitcoin reached a excessive of $50,000 for the first time in mid-February 2021. Mastercard has introduced it’s bringing cryptocurrency onto its network. Tesla bought $1.5 billion of it earlier this yr and is already seeing a return, based on some analysts. In the meantime, on-line traders have been pushing a foreign money referred to as Dogecoin in a push to lift its worth quick à la r/wallstreetbets.
Crypto, lengthy seen because the haven for digital evangelists and web discussion board dwellers, now has conventional monetary gatekeepers enthusiastic about the way forward for foreign money.
For instance, China is shifting to digitize the yuan, with an purpose towards globalizing it sooner or later.
Does bitcoin’s rise replicate a decline of the U.S. greenback’s international affect? Does bringing cryptocurrency to the mainstream battle with its founding philosophy?