In future years, it’s possible that 2020 will be seen as a watershed moment for cryptocurrencies. When Black Thursday hit in March, it wiped billions off the markets in a matter of hours. Anyone would have been forgiven for thinking recovery would take years.
But by December, Bitcoin (BTC) has gone on to achieve a new all-time high, breaking the $20,000 resistance and almost reaching $24,000 in the process. This has come at the end of the first year in Bitcoin’s history where it was tested against the backdrop of a global recession.
Indeed, 2020 has also seen active addresses approach 2017 levels, according to data from Glassnode. So, as much as speculation points to institutional investors as the reason for Bitcoin’s meteoric recovery, the data suggests that general adoption is on the rise.
This leads to a question: Which companies, governments and other entities have made the greatest contribution to cryptocurrency adoption in 2020? In no particular order, here are Cointelegraph’s top picks:
When it emerged in late October that the payments industry behemoth was planning to integrate cryptocurrencies into its platform, the markets responded with gusto. PayPal’s news confirmed what many had been suspecting for some time, but the announcement came with a surprising cherry on top: PayPal also announced that from January, users would be able to spend cryptocurrency at any of its 26 million merchants.
It isn’t just Bitcoin that has benefitted from the news, which appears to be creating a positive reinforcement cycle for PayPal’s stock too. Shares in the company have risen by 17% over the months since its announcement. While users in the United States can already take advantage of the service, PayPal will launch crypto trading to all of its 300 million global user base starting from next year.
The Office of the Comptroller of the Currency
The relationship between cryptocurrencies and U.S. regulators has long been a tense one. However, in July,…