In a new report, the International Monetary Fund looked at the flagship digital cryptocurrency and its impact on global markets. The IMF recognized the asset's ability to positively influence the economy. Is this a big step for Bitcoin's identity? And what made this possible?
The IMF's ability to recognize bitcoin's potential and include it in its analysis was made possible by several key factors:
1. The rapid growth of capitalization and trading volumes in the bitcoin market over the past decade. Financial regulators can no longer ignore an asset that has reached trillions in capitalization estimates.
2. Expanded use of bitcoin as a store of value, payment and investment among retail and institutional investors in many countries around the world.
3. Development of infrastructure and regulation around bitcoin and other cryptocurrencies, including the establishment of regulated crypto exchanges, depository services, investment funds and derivatives.
4. Legalization and development of a regulatory framework for the cryptocurrency industry in a number of countries, such as the US, Singapore, Switzerland, etc.
5. Acceptance of bitcoin by some companies as a means of payment, and by some countries as legal tender.
6. Growing interest and research in the application of blockchain and cryptocurrencies from technology giants, banks and financial institutions.
Thus, the scale and influence of the bitcoin phenomenon have reached such a level that major international organizations like the IMF can no longer ignore it in their research materials.