From the space race to the hunt for cryptocurrencies

Exactly 60 years ago, on April 12, 1961, Soviet astronaut and pilot Yuri Gararin became the first human being to travel into outer space and complete an orbit around planet Earth, a feat achieved in just 89 minutes.

Gagarin’s space race was a historic milestone for humanity and marked a turning point for technology: the impossible became a palpable reality.

Today we are on the eve of a similar model change motivated by the technology sector.

Not even the most daring science fiction works of the 1950s and 1960s, which dreamed of creating colonies on the Moon or on Mars, could have imagined the revolutionary potential of the internet.

But beyond all fiction, bitcoin, the undisputed leader in the world of cryptocurrencies, has broken the sound barrier and is now beginning to unfold its full potential.

On its stellar path, the digital currency is likely to bring about as momentous a model change as Gagarin’s space race was then.

Bitcoin is ready to break down all institutional barriers

We are not exaggerating when we say that, in a globalized society that places such importance on money, the technological revolution in the world of finance will necessarily mean a new historical milestone.

After more than a decade banished to the realm of virtual urban cultures, bitcoin is finally beginning to enjoy the recognition it deserves, backed by its growing market value.

In addition to reaching stratospheric heights in terms of its price, both BTC and the rest of cryptocurrencies have managed to build a fast highway towards a new financial system that, now, can be free of tolls and be completely independent at the institutional level.

To realize the magnitude of this change, we only have to observe that those institutions that previously despised bitcoin do not stop buying it now.

One of the best examples is Citi Global Perspectives & Solutions, a heavyweight financial institution that in one of its recent reports called Bitcoin is at a tipping point, admitted to attempting to ridicule cryptocurrency in 2014, calling it an “asset for no one”.

Today, however, it has welcomed bitcoin as the undisputed protagonist in a new financial system that seeks to awaken the interest of its investors in this new “digital gold” as protection against inflation.

More and more people are holding bitcoin, and they are holding it for longer.

The holding of 50% of BTC has been held for at least one year, and 10% of BTC has been held for at least five years.

This represents a radical change in the way investors perceive bitcoin.

Far from being understood as a speculative business, they consider it a safe long-term investment with which to diversify their portfolio of financial instruments.

The success achieved by bitcoin, which last February reached a market capitalization of $ 1 trillion, and whose value at the time of writing this article is $ 58,000 per currency, has forced many and Widely consolidated financial institutions no longer only invest in BTC and in the rest of the stars of the constellation of cryptocurrencies.

Now they are even contemplating launching their own digital currency. As with the space race, this is the beginning of the competition of the titans.

But let’s not forget that bitcoin is the one that moves the first piece, and it would not be too difficult for it to win the game against all the institutions that are trying to take over the monopoly of cryptocurrencies.

According to the Citi report, bitcoin could even become the currency of choice for international trade in the next seven years, due to numerous factors.

Among these, we can highlight its global reach, neutrality and decentralized architecture, the possibility of making faster transactions (and potentially with lower costs), the security of its payment channels, and its traceability.

By not being vulnerable to currency market volatility, bitcoin can easily overcome the many obstacles encountered when transacting internationally in an increasingly globalized financial system.

Other cryptocurrencies, such as ripple, are eager to take this position, but BTC is still leading the way.

The published report also emphasized the growing reliability and security that governs the cryptocurrency exchange, which have adapted and optimized their infrastructures to offer a more secure, trustworthy service, and linked to traditional banking.

Now buying crypto with your bank card and storing it in a cryptocurrency exchange is easier and safer than ever, nothing to do with that leap into the unknown that was before.

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