bridge21 update - October 25th 2021
USD:MXN corrects to 20.2:1. Bitcoin hits new all-time highs and an update on bridge21's plans.
USD:MXN forecast
USD:MXN rates dropped from nearly 21:1 to 20.2:1 levels. The downtrend looks like it's reversed (tentatively). Rates should recover this week.
Bitcoin hit new all-time highs, corrected, and appears poised for another run-up.
Bitcoin broke through to new all-time highs as US regulators announced the approval of a Bitcoin futures ETF. This will allow self-directed retirement account money to more easily flow into Bitcoin. Bitcoin promptly corrected to 60k USD levels on profit taking, but appears to be on the rise again.
The bottom line is that Bitcoin broke through to new all-time highs. This is extremely bullish for both Bitcoin and alternatives as the key psychological threshold was crossed. We expect higher prices from here.
bridge21’s Future
bridge21 is planning to take on investment in order to bring the power of cryptocurrency to small and medium sized businesses making cross-border payments around the world.
The original focus of our product was laser focused on individuals sending money to Mexico with business senders as an afterthought. That original product reached profitability in September and we've learned tremendous amounts about our product/market fit.
As it turns out, small and medium sized businesses are by far our largest customers, despite our service only offering limited functionality to them. These customers have a long list of needs and wants that we can deliver on to make our service better.
The investment will be used to build self-service for businesses, including features not offered by others today, including treasury management, limit orders, and more. We'll expand to more countries and to give small and medium sized businesses access to the power of cryptocurrency for cross-border payments in a way that they couldn't achieve affordably on their own. Of course our individual customers will benefit from this too.
Best regards,
Will -bridge21.com
The content in this update is for informational purposes only. You should not construe any information or other material in this update as legal, tax, investment, financial, or other advice. While we took care to share correct information from reputable sources, bridge21 cannot guarantee the accuracy or timeliness of the information.