Buffalo Chase

Political instability, inflation, and high banking fees have pushed Africa's 226 million youth towards Bitcoin in record numbers.

There are many reasons why institutions are increasing their treasury exposure to Bitcoin in 2020, and I'd like to break down the top five reasons.

Decentralized finance (defi) tokens still have a market cap of over $14 billion, despite a 25% drop on October 7.

The Ethereum hashrate—an estimate of successful hashes per second by ETH miners—reached an all-time high of 290 terahashes per second (TH/s) on October 6.

Bitcoin is up over 35% since the start of 2020 and is earning a strong reputation to be the new digital gold.

The European Central Bank (ECB), the central bank of 19 European Union countries, is now seriously considering a digital euro as early as next year.

Crypto analytics firm Glassnode revealed that Ethereum miners globally made a total of $166 million from transaction fees in September—the best month ever for mining.

Over 300 financial institutions across 40 countries worldwide have already launched integrations with Ripple, according to data reports on its website.

The top five stablecoins—Tether (USDT), USD Coin (USDC), DAI (DAI), True USD (TUSD) and Binance (BUSD)—are now worth $20 billion by themselves.

As long as Bitcoin holds above $10,250 to $10,500, institutional buying pressure from Grayscale will likely push Bitcoin to re-test $11,000 to $12,000 soon.