It’s been only a few short years since cryptocurrency has cracked into mainstream awareness, and already the world has been changed forever. Not only is Bitcoin seen as a legitimate way to buy and sell goods and services, but it is even being used in retirement portfolios, real estate transactions, and national currency backings.
The massive adoption of cryptocurrency extends beyond Bitcoin to tens of thousands of unique cryptocurrency projects. From Ethereum, to Dogecoin, to Project TXA and beyond, there is a nearly endless amount of variation in the crypto industry.
However, 7 years after cryptocurrency first made the mainstream news, buying cryptocurrency is still difficult. Crypto has, unfortunately, remained behind a walled garden – with headache-inducing processes needed to convert fiat money into cryptocurrency. Often, this involves creating an account with a centralized exchange, waiting for your bank to approve the transfer of cash, and swapping your fiat money for one of a few cryptocurrencies being offered by your home exchange.
That’s why Twitter’s recent signal that they will soon allow Twitter users to buy and sell cryptocurrency directly on the Twitter app is so newsworthy. Here, for the first time, we see cryptocurrency escaping that walled garden and coming out into the open, remaining highly accessible for the entire world.
Twitter is projected to have over 237 million daily active users from around the world. If just 10% of Twitter’s users bought $25 worth of cryptocurrency, the crypto industry would see an injection of $592 million into its market cap. That’s nearly 50% of the current cryptocurrency market cap, and would undoubtedly result in several cryptocurrencies receiving major pumps in transaction volume and price.
It’s not hard to imagine how Twitter’s support for cryptocurrency could lead to large upswings in the cryptocurrency markets, and these upswings could be especially pronounced for the select few cryptocurrency projects that know how to capitalize on Twitter marketing. We’re quickly approaching the day when the projects who understand how best to use Twitter will reap massive rewards.
Beyond the price action, this is also a strong signal for the continued mass adoption of cryptocurrency. The more that people get their hands on cryptocurrency and become a direct holder of the future of finance, the better the likelihood is that cryptocurrency will continue to supplant fiat money in the coming years.
For those of us who love to see decentralized finance grow and flourish, this is a welcome change of pace.
New to Tacen and wanting to learn what it’s all about? Be sure to follow us on Twitter to catch the latest updates and join our Discord community to meet the team and make friends. We love to give crypto to our community, and staying active on our Twitter and in our Discord server are the best ways to be the first in line.
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