Bitcoin soars after Citi says it could become ‘currency of choice’ for global trade ...News

Russia Today - Economy
Bitcoin soars after Citi says it could become ‘currency of choice’ for global trade
source : Russia Today ( News ) () 20
The world’s largest cryptocurrency, bitcoin, bounced back above $48,000 on Monday, following a report by Citi which suggested that the digital asset could one day become the preferred currency for international trade. Bitcoin was up almost nine percent as of 2:22pm GMT, at $48,193. According to Citi, bitcoin’s recent performance has been inspired by involvement of institutional investors in recent years, in contrast to its heavy retail investor focus for most of the past decade. With the recent embrace of the likes of Tesla and Mastercard, bitcoin could be at the start of a “massive transformation” into the mainstream, Citi said. “The

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