​Cloud mining is worth it? If you asked this ten years ago, you might have heard more negative answers. And today, ten years later, perhaps even conservative people cannot ignore the value of cryptocurrency. This has also led to the growth and acceleration of the adoption of cryptocurrency by major financial institutions, and they have entered the industry one after another. Bitcoin, Ethereum, Dogecoin, Litecoin, etc. have become more common investment methods.
Cloud mining is worth it? In an interview with Cointelegraph recently, Stephen Stonberg, CEO of BittrexGlobal, said that the crypto industry is no longer in its infancy: "I think we have passed the early stage of crypto adoption. Cryptocurrencies are now mainstream. In developed and developing countries, the adoption rate has reached double digits. There is even one country that adopts Bitcoin as legal tender, and many other countries are also considering adopting Bitcoin as legal tender."
He also believes that, at the commercial level, we have also seen tremendous changes. Then he cited recent developments in cryptocurrency by AMC and Venmo. Cloud mining is worth it? By 2022, if everything goes according to plan, AMC moviegoers should be able to pay for their tickets with Bitcoin. Venmo recently announced a new feature, Venmo credit card users can choose to put cash back rewards directly into crypto assets.

In recent years, the international payment giant Visa has established partnerships with 50 companies including Coinbase, Circle, and FTX, allowing users to easily use cryptocurrencies on the Visa payment network. This means that even in those merchants that do not accept cryptocurrency, users can smoothly use the relevant payment services provided by Visa.
American life insurance company MassMutual has partnered with crypto financial service provider NYDIG to provide financial professionals and investors with access to Bitcoin funds. MassMutual made a $5 million equity investment in NYDIG last year and invested $100 million in Bitcoin for its general investment account.
Cloud mining is worth it? More and more institutions are preparing to attack. Traditional financial institutions such as BlackRock, Goldman Sachs, Morgan Stanley, and JPMorgan Chase have set up bitcoin funds and services in the past few months or admitted to considering switching to cryptocurrencies. Financial services company TPICAP announced that it will launch an encrypted trading platform with financial giants Fidelity Investments and Standard Chartered Bank.
According to a research report by Blockdata, a blockchain market intelligence agency, 55 of the top 100 banks in asset management scale (AUM) have been exposed to encryption and blockchain risk exposure in some form, and participation methods include direct investment by the banks themselves. Or indirectly invest in encryption and decentralized ledger technology companies through its subsidiaries.
The study listed Barclays, Citi, and Goldman Sachs as the most active supporters of crypto and blockchain companies, and JPMorgan Chase and BNP Paribas were identified as serial investors in emerging fields. The study also shows that crypto custody is the main focus of banks in the crypto field. In fact, among the top 100 banks in AUM, nearly a quarter of banks are either developing crypto custody solutions or supporting startups that provide custody services for crypto assets. Several banks in the United States, Asia, and Europe are building crypto custody platforms as part of their initial attempts to enter cryptocurrencies.
Blockdata attributed the increasing involvement of banks in encryption and blockchain to three main factors: the soaring profits of cryptocurrency startups, regulatory progress, and the growing demand for crypto asset exposure by bank customers.

In the pandemic crisis, institutional demand for Bitcoin is soaring, and the multi-billion dollar Bitcoin and crypto asset management company Grayscale announced the largest quarterly inflow of funds in its history, approaching 1 billion U.S. dollars. Cloud mining is worth it? In the second quarter of 2020, institutional investors (mainly hedge funds) accounted for 84% of Grayscale Bitcoin and cryptocurrency fund investments, up from 81% in the previous 12 months. This quarter, new investors accounted for 57% of Grayscale's investor base, up from 49% in the same period last year.
Grayscale research director Philip Bonello said in an investor conference call after Grayscale announced the second-quarter report: "Grayscale is not creating demand, but reflecting the demand for this asset class."
Cloud mining is worth it? The trading volume of the cryptocurrency market has exceeded US$16 trillion, surpassing the annual trading volume of Facebook, Apple, Amazon, Netflix, and Google. Do you have any questions about such a huge piece of cake?