The development of the crypto market over the past decade, together with digitalization, has contributed to changes in payment options around the world. This study examines how different financial institutions in Sweden view bitcoin as a means of payment. In addition, trust in bitcoin and its impact on the institutions' operations are analyzed using legitimacy theory and legitimacy strategies. This is done through a qualitative approach with five interviews from different perspectives in the financial market. The study suggests that bitcoin is currently not considered an accepted means of payment in Sweden due to the high level of trust that Swedes have in financial institutions. It is rather seen as an asset and - according to some - an investment opportunity. Furthermore, it is concluded that there is an extensive need for the upcoming regulation of the crypto market. In addition, the study also shows how institutions keep themselves legitimate in relation to bitcoin and society's values regarding the crypto market, as well as their various applied strategies.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:sh-51739 |
| Date | January 2023 |
| Creators | Alverblad, Isabelle, Hagos, Milen |
| Publisher | Södertörns högskola, Företagsekonomi |
| Source Sets | DiVA Archive at Upsalla University |
| Language | Swedish |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
| Relation | Examensarbete |
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