fell from about $20 billion in 2019 to about $10 billion in 2020, according to a report released on Monday.
A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.CIti GPS said that the volume of illegal use of Bitcoin was miniscule compared with fraud in established credit and debit systems handling government-issued fiat currencies.
"The entrance of institutional investors has sparked confidence in cryptocurrency, but there are still persistent issues that could limit widespread adoption," the report said. In 2017, Bitcoin climbed to about $20,000 before plunging as much as 80% the following year. Bitcoin bulls say its current rise is driven by institutional investors, and the cryptocurrency is therefore likely to be more stable.
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