People were forced to shop online during the lockdown, resulting in significant growth in online commerce. Although most countries have eased restrictions, shoppers still choose online shopping over visiting physical stores. Waldron talked about the global health crisis and how it will eventually lead to an “explosion” in crypto use. He said:
“The pandemic has been a significant accelerant. There is no question in our mind there will be more digital commerce… and (use of) digital money.”
Cryptocurrencies, especially Bitcoin, have seen growth over the past year. During the same period, the crypto market has recorded a rise in both individual and institutional investors.
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