PlanB Addresses New Phase of BTC’s Financial Takeover

The crypto market looks bloody today with the most important coins trading in the red, and Bitcoin is no exception this morning.

At the moment of writing this article, the king coin is priced at $10,119.63.

PlanB says Bitcoin is entering a new stage of adoption

According to the latest reports coming from the online publication the Daily Hodl, the creator of the stock-to-flow Bitcoin model recently addressed a Reuters report that Kazakhstan has been in talks to attract more than $700 million worth of investments into the crypto space.

It’s been revealed that the oil-reliant central Asian country offers BTC miners cheap electricity rates.

More than that, it seems that this reportedly accounts for more than 6% of the total Bitcoin hashrate across the globe, says a report published in the Cambridge Centre for Alternative Finance.

More triggers to fuel adoption

The anonymous trader also pointed to the news that revealed the fact that MicroStrategy, the largest publicly-traded business intelligence company, had used $250 million of its balance sheet capital to buy Bitcoin.

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CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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