How likely is Bitcoin to beat traditional banks in the future?

The value of Bitcoin has changed the trust and popularity of network agents, and as a result, the network has grown at an alarming rate, faster on the internet.

Bitcoin has a proven track record as a force forcing financial markets. These gains have already occurred when some people do not once agree to change their position in cryptocurrencies.

Michael Saylor, CEO of MicroStrategy Billionaire, Elon Musk, CEO of Tesla and SpaceX, and billionaire hedge fund manager Mark Cuban Mark Cuban) In the past, Bitcoin has been skeptical and their behavior has changed. Michael Thaler, who is not a former Bitcoin holder, said his company will continue to hold Bitcoin publicly on its balance sheet. Likewise, Musk explained in 2019 that Bitcoin "does not match" with Tesla, but acquired it in 2021. And for Tudor, his position around December 2019 is that there was "no chance" that Bitcoin becomes a reliable commodity, but today it is considered a “commodity like gold”.

The list of converts is long and varied, reaching new heights every day. In the future, if the recent situation goes well, the bank can come. An example of a representative is the exchange of investments in JP Morgan. Although the bank has in the past protected Bitcoin from regulation, starting in 2021 it began to encourage consumers to join the cryptocurrency market.

For a while, the eyes of the Bitcoin community were on the financial industry. The world's major cryptocurrency giants, including Binance CEO Changpeng Zhao, have previously warned that if the financial market ignores the adoption of Bitcoin, it will pay a heavy price. He also believes that in the meantime, banks will stand their ground and be ready to accept Bitcoin and deliver impactful services.

As more banks start to take Bitcoin seriously, the benefits of Bitcoin seem to be working in banks.

Currently, the challenge for banks is that they cannot be directly affected by cryptocurrencies due to uncertain regulation. Additionally, some governments have announced strict Bitcoin legislation, prohibiting banks from interfering with Bitcoin. For example, India and Nigeria announced central bank restrictions prohibiting banks from services interfering with the cryptocurrency market. China also has a long history of attacks on Bitcoin. South Korea recently broke bitcoin miners, making cryptocurrency trading very difficult in our country.

As regulatory uncertainty in federal law becomes more favorable to crypto, more banks will embrace Bitcoin.

As financier Joseph Young recently said, "... this is no exception. Every major financial institution will operate on Bitcoin, Ethereum, and crypto sites. It will be a long process, but it will happen."