Bitcoin outperformed bank stocks, and BTC’s popularity in Twitter is at the peak
Visa CEO: Bitcoin will not become a means of payment
Visa CEO Alfred Kelly said Bitcoin is unlikely to become a means of payment, but other digital currencies have this potential.
“Many more people are buying Bitcoin and holding it versus actually spending on it, whereas digital currencies backed by a fiat currency I think are a real potential emerging payment technology that could be very interesting, ”Kelly said.
In his opinion, virtual currencies may become an addition to the existing VISA payment system, but they will not replace it completely. They will be especially useful in countries where it is difficult for residents to access banking services.
Bitcoin outperformed banks stocks
Since the beginning of the year, the first cryptocurrency has risen in price by 36.5%. At the same time, quotes of the largest banks lost in value, according to Ryan Selkis, founder of Messari.
So, JP Morgan securities lost 37.2%, Bank of America shares fell by 38.4%, while Citi fell by 47.4%. Wells Fargo quotes showed the greatest drawdown, having decreased by 55.3%.
Today, the average market price of bitcoin is $9,780, the cryptocurrency has strengthened by 1.87% in 24 hours. Since mid-March, BTC has risen in price by more than 2.5 times.
Bitcoin’s popularity on Twitter is growing rapidly
The number of tweets about bitcoin in Twitter has grown to a 2.5-year maximum.
At the same time, the percentage of positive posts has been at the highest level since 2017, according to The TIE information service. The head of the company said that this is the highest figure for all the time of observation.
In his opinion, this signals the first cryptocurrency will soon rise in price. For example, on May 17, 31,000 tweets were posted with the phrases “Bitcoin,” “Halving,” “Bitcoin trading,” “Bitcoin and gold”.