Bitcoin struggles with mainstream acceptance

The number of companies accepting Bitcoin continued to grow very slowly in Q1 2015. The reason for the slow acceptance of Bitcoin by the companies is less the interest of the companies in Bitcoin than the slow spread among the general public.

In Q1, a total of 1 million new Bitcoin Wallets were created, reflecting 14% growth. In February, Blockchain Wallets broke the 3 million mark.

For 2015, CoinDesk forecasts a total of 12 millionne wallets

Wall Street’s interest in Bitcoin was mainly due to the migration of financial managers to the Bitcoin industry (slide 77).

Leading banks such as Citi and UBS have also launched their own programs to further explore the blockchain. This development enables Bitcoin start-ups to establish important links to the traditional financial system.

The latest version of the New York BitLicense was published in February (slide 80). Even though a positive development could be observed in principle, some passages of the license still raise questions and require clarification.

Positive signals from Wall Street and regulators

The British Ministry of Finance also announced a new regulatory framework for digital currencies. The draft is generally seen as a positive development.

Mark Preuss is founder and managing director of BTC-ECHO
After studying economics in the Netherlands and China, he held various positions in finance, first in Switzerland and finally in Düsseldorf. Early on, he became enthusiastic about digital currencies and blockchain technology. In the absence of a contact point in German-speaking countries, Mark finally decided at the end of 2013 to launch BTC-ECHO, his own media platform for digital currencies and blockchain. Since then, he has developed BTC-ECHO into the most widely used German-language platform for crypto currencies.