Bitcoin and crypto might have taken a strong slide down but its awareness is only growing as Coronation Street exposes leading crypto to about 8 million people. Also, experts and financial executives believe it is not going anywhere and is here to stay.
Bitcoin awareness is rising and getting mainstream recognition with each passing day. After Walmart’s $1 Bitcoin sale and Eminem’s Kamikaze giving Bitcoin a shout out, now about eight million further gets Bitcoin exposure.
British soap opera Coronation Street that has approximately eight million people per episode audience got Bitcoin as the front seat runner. The longest running TV soap opera in the world has Ryan Connor, a former drug addict and DJ who has been on and off on the show remembering investing £50 in Whipcoin years ago. On research, he realizes his investment today worth £250 million.
But, only if could remember the password as well! On tracking down the password, he realizes his research has been out of date as his coins are now worthless.
This is not the first time cryptos gets mainstream exposure, Bitcoin has been covered by a number of shows previously as well such as Silicon Valley, The Big Bang Theory, and Billions among others.
Awareness and adoption are surely surging but the belief in Bitcoin and cryptocurrencies is also taking a hike if the latest report is to be believed. Despite Bitcoin being about 70% down from its all-time high (ATH) and cryptocurrencies suffering from an 80% to 90% fall since then, the effect of cryptos is not at all waning.
The Allianz chief economic advisor, Mohamed El-Erian recently stated in an interview:
“What we’re getting is the realization that adoption is not going to be as big and as quick as the proponents of crypto would like. I think it’s going to be there, it’s going to last for a long time, it’s going to play a role in the ecosystem, but it’s not going to be the currency that a lot of proponents would like it to be.”
Greenwich Associates, a consulting firm releases a report that states that according to the survey more than 70% of the institutional finance executives believe that cryptos are here to stay.
Richard Johnson, vice president of Market Structure and Technology group of Greenwich Associates and the author of the report shared:
“They’re telling us that they don’t think it’s going away and that it’s here to stay.”
A total of 141 institutional investment executives have been polled that in majority believes though many cryptos will fail and only a few will survive and thrive, a regulatory framework will lead to its growth.
Only 10 percenters think cryptos won’t get any mainstream adoption and that regulatory crackdown will eliminate it altogether.
He also shared:
“We’ve had a terrible market for crypto this year, but people are still coming out with a lot of great innovation and a lot of great ideas.”
Furthermore, ETFs and Futures are identified as the products that will make cryptos more accessible to hedge funds, asset managers, banks and other big organizations.
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