With the launch of several new products, Bitcoin future contacts hit a new high in future volumes. This is the same Bitcoin that in November of 2018 had us asking Where is the Bitcoin Bottom?
Even though on a technical basis it appeared ready for a bounce, the news for Bitcoin has just been getting better as more and more large American companies become involved.
Here are some reasons why Bitcoin is having a great 2019:
- Microsoft has designed and launched the first decentralized infrastructure implementation, built specifically for Bitcoin’s blockchain. Not only has Microsoft become one of the first major high tech firm to provide tools, but it is also one of the largest players in terms of its overall enterprise infrastructure tools for development platforms. Historically speaking when big high tech firms support a new technology, such as Microsoft providing infrastructure tools, it often stimulates thousands of smaller technology companies to follow them and launch addition products base on the new toolset. That’s the Microsoft goal with this product.
- In December LinkedIn claimed that “Blockchain Developer” is the fastest-growing U.S. job.
One of Bitcoin’s weakest issues is the coin’s volatility. Let’s say a company signs a Jan 1st contact to deliver in 6 months. With the currency movement up 132%, if your on the wrong side of this movement you could lose your shirt. With that problem in mind, GSR launched a Hedge Base Structures products to help remove some the the volatility.
- Also Starbucks has partnered with Microsoft and Boston Consulting Group to offer cyber solutions with very fast settlement, or Bitcoin futures dollars, to reduce the issues with holding a very volatile financial instrument.
- Whole Foods (owned by megacompany Amazon) announce on May 13, 2019 that they would accept bitcoin. SPENT App has also partnered with: Lowes, Petco, Barnes & Noble, Regal Cinemas, Gamestop, Baskin Robbins, Crate and Barrel, and Nordstrom.
With a 132% rise in such a short time frame, the recent positive Bitcoin news fcould be fully priced in, but the adoption of next generation products and services is a special development. It could be exponential growth from here on.