At the beginning of 2017, the price of bitcoin was $1,000. By the end of the year, it was sitting at over $15,000. Today, Bitcoin is worth just under $12,000. Could this mean that bitcoin will be a primary currency in 2022?
Bitcoin has always had its ups and downs in the past. Whether it would rise or fall was never predictable. As the world’s most-used cryptocurrency right now, people wonder if it will become a more popular payment for eSports in 2022. Here are some reasons why this may happen and why it might not happen.
Why would bitcoin become more prominent in eSports in 2022?
eSports is a fast-growing industry. Newzoo predicts that there will be over 380 million eSports enthusiasts by 2022, with 126 million of those being occasional viewers and fans. There are many different ways to pay for these games, but digital currencies like bitcoin are the most popular.
Many people use bitcoin because it’s easy to send and receive payments without worrying about any high fees. It can help avoid credit card fraud and chargebacks if something goes wrong.
Another reason Bitcoin may become more prevalent in 2022 is that more people are using it alongside other traditional forms of payment like Visa and MasterCard. If you’re an avid gamer who has used PayPal in the past to buy games or content, you’ll know that sometimes there is a lag time when you purchase until funds are transferred from your bank account to PayPal. With Bitcoin, this isn’t an issue because money is sent instantly. The one thing you need is an internet connection and a mining rig. Bitcoin could also become popular as an investment vehicle because it can provide higher returns than other investments on the stock market.
Why wouldn’t bitcoin become more prominent in eSports in 2022?
Bitcoin has been around for a decade. Many people have been using it for years, and there’s not much change in its number.
Some people might be hesitant to use bitcoin because they don’t want to deal with the risk. The price of bitcoin can fluctuate so much that you may invest in it today and then tomorrow find out that the price has dropped significantly. There’s also the issue of government regulation on bitcoin, which is currently unclear.
Another reason why Bitcoin might not become a significant currency in 2022 is that as a cryptocurrency, there are still some unknowns about how it should be regulated. This could lead to uncertainty or even fear among potential investors who might worry about possible changes in regulations coming down the pipeline.
Bitcoin has a lot of potential for the future of eSports; however, many factors will come into play to make this happen. One of the main variables is whether Bitcoin can find a way to become more useful in the United States. If bitcoin can find a way to become more mainstream, then it will become more prevalent in the eSports world. If bitcoin does not find a way to become more mainstream in the US, then it will not be an integral part of the eSports world in 2022.