Mastercard: Bitcoin cannot be used as a means of payment.

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Cryptocurrencies continue to take over the world, although this process is not fast. Every year, the public becomes more and more interested in cryptocurrencies. Of course, there is no denying the obvious. Janet Yellen, Christine Lagarde, and others are right when they say that bitcoin is often used for criminal purposes and money laundering. This is what makes bitcoin and other tokens stand out from ordinary money. With the development of the banking system, most of the payments go through banks, so it has become much easier for states to control the flow of money. But with the advent of anonymous digital currencies, which are not anything valuable, but at the same time the price for them is set by the market, the problem of anonymous, untraceable payments has been solved. Therefore, we continue to argue that bitcoin and its "brothers" are a great tool for investing or a great tool for hidden payments, but it is a weak tool for daily use and calculations. However, many companies and businessmen with investors continue to hold the same opinion. For example, Mastercard Executive Chairman Ann Cairns. He believes that bitcoin is an extremely volatile instrument, and the transaction takes too much time. "If you and I go for a coffee and I decide to pay with bitcoins, our drink may cost me, for example, 40% more from the moment of submission. And the actual completion of the transaction will take 10 minutes," says Cairns. According to Cairns, bitcoin is comparable to gold, but it cannot be used as a means of payment. At least when it comes to everyday transactions.

Meanwhile, some analytical companies recorded quite large sales of bitcoins at the moment when the number one cryptocurrency began to fall in price. Many experts believe that in the coming weeks or months, bitcoin will stop its growth. This is attributed to an increase in the yield of US government bonds. As we said earlier, the sharp increase in demand for bitcoin in recent months could be caused not only by Elon Musk's tweets but also by a significant increase in the money supply in almost all developed countries of the world. Moreover, negative or minimal interest rates force investors to look for new ways to earn money. As a result, a new wave of cryptocurrency purchases began. Recently, the world has started vaccinating the population, which means that there is hope that in the next year or two, life will return to normal. Thus, the demand for bitcoin may begin to fall sharply, as economies will recover, and investors will find more attractive tools for investing. Therefore, the goal of $ 100,000 per coin may be unattainable.

The material has been provided by InstaForex Company - www.instaforex.com

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