As geopolitical tensions in Eastern Europe spilled over, it represented an unprecedented test for the staying power of Bitcoin.
In the case of software developer MicroStrategy, the company is simply purchasing BTC with the intention of holding it on its balance sheet.
Silvergate Capital, for instance, operates a network that enables the around-the-clock remittance of dollars and euros – a key capability as cryptocurrency markets never close.
Elsewhere, financial services company, Block, has been looking at developing applications for everyday use as a digital alternative to fiat currency.
As more institutions look to develop blockchain and cryptocurrency solutions, it’s highly likely that it will result in considerably better staying power for the likes of Bitcoin and other crypto.
It’s worth remembering that it wasn’t until recently that Bitcoin’s blockchain framework finally began to achieve the levels of global recognition for its technological framework that it deserved.