Binance Coin and Bitcoin Demonstrated their Capabilities
It was a great week for Bitcoin as well as Binance Coin (BNB). Let’s have a look at cryptocurrencies to learn more about the situation. People should keep in mind that Binance Coin is now the third most valuable in the world. Interestingly, the total market cap as of Monday is more than $42 billion, and this fact once more underlines the importance of this cryptocurrency.
Importantly, Binance Coin is the token of the cryptocurrency exchange Binance. This cryptocurrency posited significant gains since the start of 2021. As a reminder, it started this year at a price level of $37. It is worth mentioning that the total market cap of BNB on Friday, more than Tether (USDT) and Cardano (ADA).
As stated above, it was a great week for Bitcoin as well. Its price surpassed $50,000. At the moment, its price $55,361. The world’s largest cryptocurrency in terms of market cap has the potential to reach even better results.
Bitcoin and Regulations
Cryptocurrencies gained popularity all over the world, but there are certain risk factors. Interestingly, a Commissioner of the U.S. Securities and Exchange Commission called for urgent clear cryptocurrency amid the adoption of digital assets by leading companies like Tesla and Mastercard.
Importantly, Hester Peirce praised the involvement of a new generation of investors in financial markets. According to Peirce, it is too early to draw policy conclusions from the recent Reddit Frenzy in stocks as well as cryptocurrency assets.
Hopefully, Hester Peirce is known for her crypto-friendly stance. The crypto community also nicknamed her as ‘Crypto Mom’. She asked for clear cryptocurrency regulations to remove the uncertainty regarding the status of digital assets in the country.
Peirce is not alone when it comes to regulations. It is worth noting that, regulatory authorities around the world are planning to regulate cryptocurrency assets amid growing demand from retail traders as well as the involvement of institutional investors.
For example, Tesla revealed in its latest filing that the company invested $1.5 billion in Bitcoin. As a reminder, Tesla is the world’s largest electric-car maker. Moreover, Mastercard also made an interesting announcement.
According to this announcement, the firm is planning to accept cryptocurrencies this year. Bitcoin, as well as other cryptocurrencies, have the potential to change the world. So, it is not surprising that companies are willing to buy cryptocurrencies. Authorities should cooperate with companies and individuals to make cryptocurrencies more popular around the world.
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