Author: Ron 2013-09-18 03:22:39
Published on: 2013-09-18T03:22:39+00:00
From the given context, it has been mentioned that Bitcoin is gaining market-based legitimacy as it has its own ISO currency code. The link provided in the context takes us to a news article from coindesk.com which further explains this development. Bitcoin, being a decentralized digital currency, has been recognized by the International Organization for Standardization (ISO) with the official currency code of XBT. This recognition is a significant step towards increasing the credibility and mainstream adoption of Bitcoin in financial institutions and markets.The ISO currency code is a three-letter code used to represent currencies worldwide. It helps in standardizing the trading and exchange of currencies across international borders. With the addition of XBT in the ISO currency codes, Bitcoin can now be easily identified and tracked by financial institutions and traders globally.This move by ISO also highlights the growing acceptance of cryptocurrencies in the global economy. It indicates that Bitcoin is gradually gaining market-based legitimacy, which could lead to increased investor confidence and stability in the cryptocurrency market.In conclusion, Bitcoin's recognition by ISO with its own currency code of XBT is a significant development in the cryptocurrency market. It will help in standardizing the trading and exchange of Bitcoin and increase its credibility in financial institutions and markets globally. This move also signifies the growing acceptance of cryptocurrencies in the global economy.
Updated on: 2023-06-07T17:02:49.549604+00:00