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Adoption Explosion: Finance and Beyond
When Bitcoin emerged in 2009, few could have imagined the extent to which it would disrupt the global financial order. Initially dismissed as a fringe experiment, Bitcoin has grown into a decentralised powerhouse of digital value — accepted by businesses, eyed by governments and increasingly integrated into the infrastructure of both finance and commerce. What began as an alternative to fiat currencies is now shaping discussions around the very future of money.
The shift in global finance
Bitcoin's primary appeal lies in its independence from centralised authorities. With a fixed supply of 21 million coins and no governing body to manipulate its value, Bitcoin has become a form of "digital gold" — a hedge against inflation and political instability. Financial giants that once treated it as a speculative gamble are now including Bitcoin in their portfolios and payment platforms. From BlackRock and PayPal to Mastercard and JPMorgan, major investment and payment players, as well as banks, have accepted that, indeed,
Bitcoin is here to stay.
The emergence of Bitcoin ETFs, crypto custody solutions by top-tier banks and a growing number of public companies holding BTC on their balance sheets further legitimise Bitcoin's role in global finance. In developing economies, especially those with volatile currencies such as Argentina and Nigeria, Bitcoin adoption has accelerated out of necessity, providing ordinary citizens with a way to preserve purchasing power and transact without barriers.
Singapore's open-minded approach
In Singapore, known for its pragmatic innovation, Bitcoin has seen steady growth. The Monetary Authority of Singapore (MAS) has taken a balanced approach, welcoming digital assets while emphasising consumer protection and anti-money laundering safeguards. As a result, Singapore is positioning itself as one of the main crypto-financial hubs in Asia.
Retail investors can buy and sell Bitcoin through local exchanges like Coinhako or through global platforms such as Coinbase. Meanwhile, a number of restaurants, online shops and even tuition providers in Singapore accept BTC as payment, albeit in limited circles for now. The city-state is also home to blockchain research initiatives and fintech incubators that incorporate Bitcoin into larger Web3 ecosystems.
Bitcoin beyond finance
Bitcoin's influence is no longer confined to finance, however. It has sparked conversations in energy policy, due to its mining footprint and environmental innovation, given its growing number of green mining initiatives. Better still, in jurisdictions facing sanctions or banking exclusion, Bitcoin can mean survival.
Artists and creators have also embraced Bitcoin as a means of direct compensation, removing middlemen and external control. In this way, Bitcoin is helping to redefine ownership, identity and value in the digital age.
A look ahead: Bitcoin in 2035
Ten years from now, Bitcoin may be woven more deeply into the fabric of daily life. Consider the following scenarios:
Finance: Bitcoin could become a standard reserve asset for central banks, alongside gold and foreign currencies. Smaller economies might adopt BTC as legal tender.
Banking: Forward-thinking TradFi banks may offer Bitcoin custody, savings accounts, loans backed by Bitcoin collateral, or even BTC-denominated mortgages.
Commerce: Major global retailers may routinely accept Bitcoin, supported by improved transaction layers like the Lightning Network or Liquid, allowing real-time low-cost payments.
Wages and remittances: Remote workers and freelancers may be paid in Bitcoin, while international remittances could be settled instantly, reducing costs for migrant workers worldwide.
Identity and security: With its immutable ledger, Bitcoin's blockchain may serve as a base for verifying identities, securing contracts and recording digital ownership across sectors.
Still, challenges remain. Bitcoin's regulatory uncertainty and environmental concerns must be addressed. However, with sustained development, community resilience and institutional integration, Bitcoin could well mature from a revolutionary outsider to a permanent fixture of the financial ecosystem. Its volatilty, for one, has already eased by several factors.
Going forward
Clearly, Bitcoin is no longer on the margins. It has entered boardrooms, policy debates and investment strategies across the world — Singapore included. Whether as a store of value, medium of exchange, or technological foundation, Bitcoin is reshaping how we think about money and ownership. The next decade will likely determine just how deeply embedded this digital asset becomes in our lives.
Stay tuned...
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Disclaimer
I wrote the above article myself and it expresses my own personal opinions and views on Bitcoin. I am unable to guarantee that the information and/or results will be correct. Furthermore, whilst I own some cryptocurrencies, I do not receive compensation for my writing and I have no business relationship with any of the companies mentioned in above article. In addition, I am not an investment advisor and above article is for purely informational purposes. Investors are advised to personally undertake adequate due diligence, or to consult a financial advisor in order to determine what assets - if any - are appropriate to invest in.
Bryan
Bryan, a Singapore PR, has spent two separate stints in Singapore, spanning close to two decades. As is the case for most non-techies, although Bryan's first exposure to Bitcoin was around 2010, it wasn't love at first sight. However, Bitcoin's impressive resilience, meteoric rise and world-changing potential have converted Bryan, to the extent that he has now pivoted to fully commit to Bitcoin.
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