While the entire crypto ecosystem has been striving towards fast adoption of cryptocurrencies, the latest news of the Opera browser adding support for Bitcoin payments would come as a giant leap for the industry. The browser published a blog post revealing the addition of BTC on its latest version of its Android App.
As per the blog post, Opera now offers a Bitcoin card to its user’s wallet which would allow them to send as well as receive money. Apart from supporting the king coin, the browser also revealed support for Justin Sun’s Tron network as well as the DApps that it shelters.
Opera’s Head of Crypto, Charles Hamel elaborated on the same and said,
“We believe that opening our browser to more blockchains, including Bitcoin, is the logical next step to making our solution more relevant to anyone who has a Bitcoin crypto wallet and would like to do things with their cryptocurrencies beyond just keeping them in an account.”
The browser has been looking into the cryptocurrency ecosystem as Opera had previously introduced the use of Ethereum for purchases through its browser.
While the 300 million user base of the browser would pose beneficial to the cryptocurrency ecosystem, Hamel revealed that Opera was looking forward to bolstering the use of digital assets for day-to-day transactions. The addition of Bitcoin as a payment method was challenging due to its use-cases when compared to several other assets, Hamel added.
Bitcoin can reach $25K if usage crosses 1M people: Thomas Lee
Managing Partner and Head of Research at Fundstrat Global Advisors, Tom Lee, recently made an appearance on CNBC‘s ‘Street Signs Asia‘ segment to talk about Bitcoin price movements in the future. Lee also spoke about why he thinks Bitcoin will touch $25K by 2022.
According to Lee, for an industry that’s over a decade old, these are still early days for digital assets. However, as time passes, it will become very institutional, he said. Fundstrat’s Lee added,
“Over time, it’s going to become an asset class, and once we hit that it’s actually another hockey stick.”
When asked about his prediction for the king coin’s price, Lee said that it had been established back in 2017 as a five-year prediction. According to him, the predicted goal would be easy to achieve due to cryptocurrencies being network value assets — the more people that hold it, the greater its value.
“In fact, it’s a log function, so if you double the users you get a quadrupling of value, and to go to $25,000 you essentially need a 4x rise (a little bit less than that) which means you need to double the number of people who hold Bitcoin.”
According to Lee’s estimates, there are under half a million people in the world who own and use Bitcoin widely today. He also compared Bitcoin to Internet stocks such as FAANG and attributed 70% of their returns since the IPOs to the growth of the Internet over that period of time.
“So in other words, it was a log function of the Internet growth, and that’s how cryptocurrencies are going to work. That’s just saying if you take it to a million users, you could get to $25,000.”