The impact of Bitcoin (BTC) on the global economy is an emerging trend because this cryptocurrency is quickly becoming mainstream. In the past, only a few people knew about BTC. Many people saw the success of this digital currency as a utopia. For others, BTC was an obscure hobby, but after a few years, this has changed. Kimberly Rosales, a connoisseur of all things cryptocurrency, details how the global economy is impacted by the introduction of these digital assets.

Today, the BTC story is completely different. BTC offers a significant digital investment opportunity, and this cryptocurrency has the potential to impact the world considerably. The price of BTC rose from $572.30 in August 2016 to $4,764.80 in August 2017, increasing the popularity of this cryptocurrency. It also caught the attention of many investors around the world.

In addition, BTC constitutes about 64.01% of the value of all cryptocurrencies. More than 7.1 million people are active users of this cryptocurrency. “Currently, many people use platforms such as Bitcoin Code for the purchase and sale of this digital currency for profit, indicates Rosales. “This application optimizes the use of the trading process with cryptocurrencies, thus reducing the risk of missing opportunities to trade. It also saves time when trading.”

Basically, Satoshi Nakamoto designed BTC to transform the traditional financial system. The goal was also to eliminate financial intermediaries which are likely to have significant effects on the global economy. BTC can also act as safe-haven security. On the other hand, BTC is a global financial system. Investors, banking sectors, businesses, and governments have shown interest in this cryptocurrency instantly.

“BTC shows properties that traditional currencies, authorized money, and assets such as gold do not have,” explains Rosales. “These properties give this cryptocurrency the power to impact the global economy. For a long time, people have called BTC a digital currency; this is for a reason. Basically, it could be the tipping point at a global financial level and a tool that can power economic growth.”

BTC exists as a digital currency. This means it is not available physically or in the form of cash. Thus, people can store BTCs in digital wallets. People can use the seed phrase they use to access this cryptocurrency from devices such as tablets and phones. In this way, people can use BTCs to securely store valuables.

“BTC is a digital currency with no central authority to control it, so they eliminate the risks of fraud,” Rosales notes. “With BTC, people can make transactions securely from their devices in real-time, plus the absence of intermediaries makes it easier for BTC users to control and manage their assets.”

On the other hand, there is also anonymity. You do not have to associate the BTC in your digital wallet with explicit personal information. Thus, this cryptocurrency differs from traditional banks that demand to know the purposes and intentions of their customers by requesting personal and financial data for each transaction.

BTC is both a new form of money and a digital currency. This means that people can use it to transfer and receive money. Many businesses currently accept BTC payments.

With these attributes, BTC has the potential to impact the world economy in many ways. These can be through shifting global investments from traditional assets to digital assets such as BTC. It also dispenses with US dollar transactions that have long served as a reserve currency.

Cryptocurrencies have the ability to eliminate major intermediaries such as banks. encourage more online and international transactions and even reduce over-reliance on fiat currencies.

“Through these digital assets, we can remove barriers to start-ups and emerging markets, as well as open up access to credit in countries with poor banking systems,” suggests Rosales.

In general, many people and institutions will feel the impact of BTC and other cryptocurrencies on the global economy, which explains why so many people are rushing to incorporate BTC as a payment method, trading asset, and investment asset.