Bitcoin adoption in the United States has been a gradual process, with the cryptocurrency being adopted by different segments of the population at different times. In the early days, Bitcoin was primarily adopted by tech-savvy individuals and libertarians who were attracted to the decentralized nature of the currency and its ability to operate outside of government control.
As the years went by, Bitcoin started to gain more mainstream acceptance. In 2014, major companies such as Dell, Expedia, and Overstock began accepting Bitcoin as a form of payment. This helped to increase the visibility of Bitcoin and made it more accessible to the general public.
In the following years, Bitcoin’s adoption continued to grow, with more and more businesses, both online and brick-and-mortar, accepting the cryptocurrency as a form of payment. This included retailers, restaurants, and even vending machines. Additionally, Bitcoin ATMs (BTMs) started to appear in major cities across the country, making it easier for individuals to purchase and sell Bitcoin.
The rise of institutional investors also played a significant role in increasing the adoption of Bitcoin in the United States. In 2017, the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) launched Bitcoin futures trading, which provided institutional investors with a regulated way to invest in the cryptocurrency. This was followed by the proposed launch of Bitcoin exchange-traded funds (ETFs) in 2020, which would further increased the accessibility of Bitcoin to institutional investors.
In recent years, Bitcoin has also been gaining traction as a form of digital gold, with some investors seeing it as a hedge against inflation. This has led to an increase in demand for Bitcoin.