Is Bitcoin a fintech?
Is Bitcoin a fintech? Does the FinTech universe now include the Bitcoin world as well? Can you categorize it into the same area or umbrella?
With Bitcoin’s emergence, many wonder how to define it?
And is it separate from all of finance?
It is a virtual asset. Or, rather an asset you can’t see or touch, but exists solely on the computer screen. However, it does possess value.
Back when the Winklevoss twins first started buying the virtual currency it fetched just $12 per coin. Today we saw a recent 52 week high near $70 USD. And if you lived in Canada, it was well over $70K CAD!
But, yes it is very much a part of the FinTech umbrella of technologies. Bitcoin enables the transfer of assets or capital in a new and technologically driven path. This is the very essence of what defines the FinTech world.
In fact, we have witnessed the birth of a whole slew or family of Bitcoin related FinTech firms that we had never heard of just a few short years ago. FTX for instance is almost a household name. Crypto.com sponsored the arena in Los Angeles and now the Winklevoss Twins and their firm Gemini!