The global CEO of Bittrex says that cryptocurrencies are no longer in the early stages of adoption

The encryption industry started with the launch of Bitcoin in 2009, and in the next few years it developed into a prosperous industry full of many different assets and blockchain-based solutions. However, Bittrex Global CEO Stephen Stonberg (Stephen Stonberg) said that the industry is no longer in its infancy.

“I think we have passed the early stage of adopting cryptocurrencies,” Stonberg told Cointelegraph, adding:

“Encryption has now become mainstream. We have double-digit adoption rates in both developed and developing countries. We even use Bitcoin as legal tender in one country, and many other countries are also considering adopting Bitcoin as legal tender.”

The government of El Salvador gave Bitcoin (Bitcoin) This Official nod in June 2021, Making assets become national legal tender. The BTC green light in El Salvador means that the company must allow the asset as a payment method in the region.

“At the business level, we have also seen tremendous changes,” Stonberg said, citing the recent developments in AMC and Venmo that are friendly to cryptocurrencies.By 2022, AMC moviegoers should be able to Pay for their tickets with Bitcoin If everything goes according to the plan of the chain theater.Thanks to a recent new feature, users of Venmo credit cards can also choose to put cash back rewards directly into crypto assets public Via Wenmo. “Both are major moves in the larger mainstream market,” Stonberg said of the development of AMC and Venmo.

related: Since May, the total market value of cryptocurrencies has exceeded 1.9T USD for the first time

“From a retail perspective, we see the adoption of cryptocurrency booming globally,” Stonberg explained. He added:

“Bitcoin adoption rates in many developing countries have reached double digits, but now the U.S. Bitcoin adoption rate has also increased from single digits to double digits. What’s more interesting is the growth and acceleration of cryptocurrency adoption by institutions. Almost all major Institutions have invested in cryptocurrencies or plan to invest in cryptocurrencies.”

Bitcoin has become a more common investment, and there are many large companies such as Microstrategy, Put capital into assets.