Citigroup says bitcoin is at a tipping point and the cryptocurrency could become “the currency of choice for international trade.” The firm wrote in a report that “we could be at the start of massive transformation of cryptocurrency into the mainstream.”

Bitcoin Is at the Tipping Point, Citi Says

Citigroup’s Global Perspectives & Solutions (GPS) team released a 108-page report Monday entitled “Bitcoin At the Tipping Point.”

The Citi GPS report explains that “the biggest change with bitcoin is the shift from it being primarily a retail-focused endeavor to something that looks attractive for institutional investors.” The firm attributes the change to “Specific enhancements to exchanges, trading, data, and custody services” that are “increasing and being revamped to accommodate the requirements of institutional investors.”

Highlighting “the advantage of bitcoin in global payments, including its decentralized design,…

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Source: https://news.bitcoin.com/citigroup-bitcoin-tipping-point-preferred-currency-international-trade/