Thursday, Wedbush's Dan Ives said in a note to consumers that the story around bitcoin is much bigger than its "potential path/timeline to $100,000." The analyst contended the critical subject when it comes to cryptocurrencies is "the potential ramifications that crypto, blockchain, and Bitcoin seem to have over the technology and corporate world for the next decade."
There's a "growing shift for companies to acknowledge this digital currency as a form of payment," agreeing to the analyst. Ives included that he still accepts "less than 5% of public companies" will invest in bitcoin over the following 12-18 months but said that number might move "extraordinarily higher" as more control and acknowledgment of the currency takes hold.
The analyst said blockchain innovation can offer assistance to increase the general speed and lower the cost of digital capacity moving forward. He noted, "there are a number of business models assaulting this new market opportunity with privately-held Filecoin one of the more amazing techniques we have seen within the market."
Coinbase posted $1.8 billion in revenue in its first-quarter report. Meaning the crypto trade pulled in over $120 million more than Intercontinental Trade, the company that possesses the New York Stock Exchange, did in its most later profit report.
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