The adoption of Bitcoin is increasing day by day, and its presence on various media is also increasing significantly.

Yesterday, the price of Bitcoin increased by more than 19%, after Elon Musk, the richest man in the world, mentioned the currency and included it in the description box of his biography on Twitter.

Then the currency declined after the lack of media momentum surrounding it, as the price of the currency is estimated at 34,000 dollars at the time of writing this article.

The reactions to the rapid rise of Bitcoin varied between supporters and opponents, between a supporter who benefits from the currency’s volatility and an opponent who cites high volatility and that it is not suitable as a hedge investment asset.

Read:The “LocalBitcoin” platform for buying and selling digital currencies between individuals is in a big problem

On the other hand, according to Marshall Hainer, CEO of Metal Pay, a cryptocurrency payment solutions company, Bitcoin has entered the fourth wave of adoption.

pointed out Marshall Hainer notes that the currency has reached all-time highs over the past few months, and with it have come the institutions that have added bitcoin to their balance sheet.

Heiner believes that the popularity of Bitcoin and the fact that it is the oldest and most liquid digital currency, leads companies to see the currency as a hedge against dollar and euro inflation.

He went on to explain:

This is what I call the fourth wave of Bitcoin adoption.

The first three waves were:

Abundance, speculation, benefit, and finally acceptance and adoption.

Since last year, many different institutions and companies have come to accept Bitcoin.

The list includes “Galaxy Digital”, “Paypal”, “Marathon Patent Group”, “Ruffer”, “Square” and others.

As for MicroStrategy, it became the largest bitcoin owner with more than 70,780 bitcoins in its vault.

Marshall Hainer believes that similar to corporate investors, the US National Digital Banks of the Office of the Comptroller of the Currency (OCC) in the United States are reaching “mass acceptance” and “understanding” of Bitcoin.

Read:Binance’s Decentralized Finance (DeFi) Coin Index Drops Over 50%

In July last year, the Office of the Comptroller of the Currency (OCC) gave the green light to national banks to hold digital currencies.

Heiner shared his predictions about Bitcoin noting the utility around other cryptocurrencies and said:

I expect bitcoin and cryptocurrencies to completely blow some minds in 2021.

Additionally, I foresee some key benefits especially in terms of stablecoins, NFTs, innovative decentralized lending and trading models, oracles, and payment systems.

Read also:

What happened with Binance, the cryptocurrency trading platform, at the height of trading activity?

Ripple responds to the SEC and demands to know why Bitcoin and Ethereum are not considered securities?