- Number of blockchain wallets jumps 20% since PayPal's announcement in late October

- There are now 247% more Bitcoin ATMs worldwide than there were at the start of 2019

- 63.1% of crypto investors consider low adoption of cryptocurrencies as a key challenge - a similar number complain about lack of trust and real-world applications

- PayPal and Tesla's moves could fundamentally change the industry

On 22 October, PayPal announced that it would soon be offering crypto services. As a new "Block Builders" infographic shows, the number of distinct blockchain wallets created has increased rapidly by around 20% since then. Tesla's announcement on Monday is also sending the crypto market into a frenzy. Not only are the prices of Bitcoin & other cryptocurrencies reaching new highs, expansion of the infrastructure is also progressing at a rapid pace.

There are now 14,906 Bitcoin ATMs around the globe, compared to just 4,286 in the same month of 2019, amounting to an increase of 247%.

The number of establishments (restaurants, cafés, etc.) offering customers the option of paying using cryptocurrency is also on the rise. As the infographic illustrates, there are large regional differences in this respect; Europe, areas of the USA and parts of Latin America are particular hotspots.

As you can see, PayPal's announcement last October has helped drive up the number of wallets and also sparked a price rally. On Monday afternoon, the e-pioneer Tesla announced that it had invested 1.5 billion dollars in Bitcoin at the start of the year, and within minutes the price had jumped to a new all-time high. However, the medium- to long-term consequences of this could be even more significant.

The reason: 63.1% of crypto investors consider the (low) acceptance of cryptocurrencies to be the central challenge for the crypto market in 2021. In addition, trust and real-world applications are also critical issues, according to assessments from investors. All of the above could be offset by the adoption of cryptocurrencies by large tech companies.

"Payments and even real estate purchases are already being made using cryptocurrencies," explains Block-Builders analyst Raphael Lulay. "But this could be just the beginning. The moves by tech giants from the US suggest that the big transformation could be just around the corner."

The full story with the infographic, facts and more statistics:

https://block-builders.net/first-paypal-now-tesla-tech-firms-rapidly-boost-number-of-blockchain-wallets-and-cause-crypto-boom/

About Block-Builders

Block-Builders.net is a news and information platform that publishes forecasts, investment news and background reports.

Press Contact

Raphael Lulay

kontakt@raphael-lulay.de

www.block-builders.net

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