The panorama in 2021 for blockchain and cryptocurrencies in Costa Rica
February 7, 2021

Cryptocurrencies, blockchain technologies, and bitcoin in particular attracted a group of institutional investors such as pension funds, university funds, mutual funds, and investment trusts last year. Bitcoin showed a remarkable rise with the price skyrocketing from under $5,000 in March 2020 to over $40,000 in January 2021, this shows a price appreciation of over 733%.

It could be argued that Bitcoin at its inception was completely kept out of the global financial system, but against the backdrop of the pandemic, investor sentiment on economic stimulus and the implications of government efforts to support the faltering economy, trade tensions Between the US and China and “Big Tech” antitrust investigations, bitcoin is now gaining traction. The number of payment service platforms that accept bitcoin is also growing (eg Paypal and Square). Even Visa Inc. supported some leading cryptocurrency exchanges (Binance, Coinbase, among others) with bitcoin-related credit and debit cards. There are no guarantees yet that bitcoin will become mainstream for institutional investors, but the trend is very positive.