With the bear market deepening and causing ups and downs in the Bitcoin market every now and then, the piecing together of significant adoption news to come up with a conclusion that maybe the bear season was a distraction after all is something that is often overlooked.
On March 4, prominent crypto Youtuber and influencer Lark Davis decided to think outside the box to piece up all major corporate adoption in order to back up his belief that what could happen following the 2024 Bitcoin (BTC) halving “will blow people’s minds.”
Increasing Corporate Crypto Adoption
Lark Davis, in a series of tweets published March 4, did not only try to make a point about the bear market but also made a list of major adoptions to back up the point.
To start off, the Influencer tweeted, “Don’t let the bear market fool you. Corporate crypto adoption is happening. Some big players are making some serious moves.”
According to Davis, with these big companies making an entrance into the crypto industry, what could follow the 2024 BTC halving could be beyond expectation. Emerging number 1 on Davis’s big players’ crypto adoption list is BlackRock, the world’s largest asset manager overseeing up to $10 trillion in Asset Under Management (AUM).
According to Davis, BlackRock launched a private spot bitcoin fund alongside a collaboration with one of the largest cryptocurrency exchanges Coinbase to launch its own BTC trading service. The crypto Youtuber believes this is a signal to accumulate Bitcoin as he stated, “Stack your Sats before these guys do.”
Davis further mentioned Mastercard’s partnership with immersive, a crypto-payment protocol, to allow Web3 wallet owners in Australia and New Zealand to use crypto as a payment method in everywhere Mastercard is accepted. The Youtuber tweeted, “Mastercard straight up refuses to be left in DeFi’s dust.”
Coming third on Davis’s list is none other than Mastercard’s direct competitor Visa. The influencer reflected on Visa working closely with WirexApp, another crypto payment app, to expand its crypto-linked debit card across the world including to U.S. customers, Asia-Pacific and U.K. markets, as well as to other 40 countries in the future, according to Davis.
Meta’s integration with Polygon to support Instagram’s non-fungible token (NFT) feature was also found on the list. Other major adoption the Influencer highlighted included Nike and Starbucks’ collaboration with Polygon as well as Amazon with Avalanche, Microsoft with Ankr, TencentGlobal with MultiversX, and Meta with Telefonica to launch a Metaverse activation program.
2024 BTC Halving, What To Expect
Besides Davis’s breakdown on why the Bitcoin halving could impact more than expected, the BTC halving has since been an update both Bitcoin Maxi and the crypto community as a whole have been anticipating as they hope this could be a good enough catalyst to drive us out of this bear market nightmare.
According to Pantera capital, the next Bitcoin halving is expected to occur on April 20, 2024. And while on average, the market peaks 1.3 years after the halving, should history were to repeat itself, the next BTC halving could result in a BTC rise to $36,000 right before the halving and a spike to $149,000 after the halving.
Meanwhile, with the halving still, far ahead, BTC has continued to suffer a downtrend following several negative news in the industry including the fallout of U.S-based crypto-friendly bank Silvergate. Over the past 7 days, BTC has plummeted nearly 5%.
The crypto asset has fallen from a one-month high of $25,000 to trade at a price of $22,459 at the time of writing, down by 0.1% in the last 24 hours.
Featured image from Unsplash, Chart from TradingView.