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Bitcoin endorsed by insurance companies and the second oldest Bank in America

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@belemo
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Every day, new entities throw their weight behind the premium digital asset and store of value. The juggernaut of a cryptocurrency has experienced relative stability in recent times as it hovers around its ATH vicinity and this has brought even more attention to it.

Out of the lot, Liberty Mutual and State Street are among the interesting names to have joined in the Bitcoin frenzy.

Liberty Mutual Group is an American diversified global insurer and the third-largest property and casualty insurer in the United States

Liberty Mutual is one of numerous fortune 100 companies to indicate interest in Bitcoin.

Through New York Digital Investment Group (NYDIG), Bitcoin is going to seep into the $6 Trillion insurance industry.

The funds raised by NYDIG will create bitcoin-powered products and services for a number of insurance companies that includes Liberty Mutual and New York Life, to name a few.

State Street is the second-oldest continually operating United States bank

So Bitcoin is basically bridging the gap between the old and the new, as more companies take the responsible role of embracing the future.

State Street's influence promises to create an enabling environment for the deployment of a digital asset trading platform for banks.

This move is outrightly geared towards bringing bigger players into the scene. Funny thing is that banks have been the most ardent detractors of cryptocurrencies for the longest time.

The companies, along with people like Peter Schiff have pedalled their FUD and cosied up with the government, presumably to gain favour from the powers that be.

Recently though, large institutions have seen the light and have decided to pick the side of the masses over their slave master.

This move marks another milestone achievement for Bitcoin and will increase the already ravaging Bitcoin exposure.

What about Nigeria?

It is still more of the same in Nigeria, as we fight this battle against a government that doesn't seem to have the interest of the people at heart.

Every day, I hear of banks closing accounts and kicking customers out of their database due to cryptocurrency transactions.

In Nigeria, the banks have sided with the Draconian policies, so crypto-related transactions aren't welcomed.

With love from Crypto

Crypto is inevitable, it is a freak of nature and unstoppable.

It's fast-paced technology at its best and will encapsulate every financial activity in life.

It's not a matter of if but when, the only question institutions have to ask themselves is, where do I want to be when the future comes?

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Posted Using LeoFinance Beta