Elektra Group, With Over 7k Points across the Americas, to Install Bitcoin Lightning Network Support
Ricardo Salinas--the owner of Elektra Group, the Mexican retail and Fintech giant, has revealed that it would soon support Bitcoin payments through the Lightning Network in their stores. The group supports over 7k points across several countries in the Americas, including the United States.
A few hours after this reveal, the BTC price surged above the consolidation experienced over the weekend as traders positioned themselves for more upside pressure in the days ahead. Overall, the trading community is confident of more upswings. However, at spot prices, Bitcoin could be relatively undervalued, underperforming other digital assets like Cardano over the last week of trading.
Even so, traders are pinning possible upswing triggers on increasing adoption and institutional support. Banks, especially in the United States, are thawing, facilitating the direct purchase of Bitcoin straight from bank accounts, or creating private funds for accredited wealthy clients. The Bitcoin price could further pump.
Elektra Group's adoption of the Lightning Network is an endorsement of the popular Bitcoin scaling solution. The option could help see the Bitcoin network process millions of transactions every second with cheap and instantaneous settlements.