FIFA World Cup in Russia Could Help Bitcoin’s Price Soar As its Utility Increases

June 14th, 2018 is a big day for many sports fanatics, as the Russia World Cup is set to happen in Saudi Arabia. The crypto and sports world is believed to come together this year, as many establishments will be accepting Bitcoin and altcoins as a mean of exchange. Could this mean a potential hike in Bitcoin price? This is what everyone is anticipating.

For the longest time, the Russian economy was barred from encouraging digital payments, as the US-Russia relationship was somewhat distant in the past. While making mixed headlines, some depicting the relationship to have become better and others, suggesting a worse, Russian Banks are finally given access to payment methods like that of Visa and MasterCard.

Unfortunately, the digital payments are not as sound as they can be, as both Visa and MasterCard were not accessible by Fintech, a Russian establishment that works towards developing new technology for the financial sector. Hence, enabling the country to come up with its own payment system, called the Mir.

Regardless of the rather inconvenient position Russia holds in digital payments, many have turned to the likes of Bitcoin as a mean of exchange – especially during the Russia World Cup. As per existing information, Kaliningrad hotels, airlines and travel agencies will be accepting Bitcoin and altcoins as a mean of payment. This is great news, given the fact that Bitcoin has been suffering since its downwards trend after it hit close to CAD$24,000 near the end of last year.

Bitcoin has been notably criticized lately, as its associated fees spiked near December 2017. In addition, many consider it to be relatively slower in terms of speed and inefficient when it comes to the amount of energy it uses on a transaction basis.

Crypto fanatics were hoping for a bull run when the Consensus Conference took place in New York, however, that did not play out to one’s expectations. Now that consumers are encouraged to make use of crypto during the Russia world Cup, not only are consumers expecting Bitcoin’s over utility to go up, but also its demand and eventually its value.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,444FansLike
2,795FollowersFollow
4,193FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Despite Testing $10,000 Multiple Times, Bitcoin Bulls May Not Arrive Yet

Yet another week of bitcoin testing $10,000 and we are back at trading around $9,600. Since the halving on May 11, the digital currency...

#DeleteCoinbase Trending After the Coinbase Exchange's Deal with DEA & IRS Becomes Public

Cryptocurrency exchange Coinbase intends to sell its blockchain analytics software called Coinbase Analytics to two US government agencies. As per the public records, the Internal...

Top UN Blockchain Expert Believes Digital Currencies And CBDC's Pose a Threat To Bank Accounts

Top U.N. official says digital assets, particularly central bank-issued digital payment systems may soon replace bank accounts due to the low-interest rates. Massimo Buonomo,...

EU’s Law Enforcement Agency, Europol, Targets Bitcoin Privacy Tool Wasabi Wallet

Europol, the European Union’s Law Enforcement Agency recently released a two-part report analyzing the impact of privacy tools in crimes related to cryptocurrency. Privacy...

Andrew Yang's Former Aide Seeks Congressional Run in NY-10; Sets Eyes on UBI and Crypto

Jonathan Herzog, a crypto advocate and former aide at Yang's campaign, has launched his congressional run for New York's 10th District. The 26-year-old started...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today