Bitcoin Influence by the Financial Elite Isn’t Necessarily a Positive Development

Ideas, Opinions, Ramblings
User avatar
phATstax00
Posts: 236
Joined: Tue Feb 20, 2018 7:52 pm

Bitcoin Influence by the Financial Elite Isn’t Necessarily a Positive Development

Tue Jun 19, 2018 9:42 pm

The status of cryptocurrency has been an ongoing issue for some time now. On paper, Bitcoin and altcoins are speculative investments. Others see it as a store of value. Unsurprisingly, it’s mainly the financial elite who considers this an investment first and foremost.
Financial Elite and Bitcoin

Even though it seems most wealthy individuals oppose Bitcoin, that is not necessarily the case. In fact, it seems quite a few wealthy individuals are keeping close tabs on Bitcoin. As one would come to expect, they mainly perceive cryptocurrency as an investment vehicle. It takes money to make money, and Bitcoin is an interesting option in this regard.

Unfortunately, that also means Bitcoin faces some issues. If people perceive it as an investment, it is then not a currency for regular payments or money transfers. While cryptocurrencies can be used in this regard, it is not their primary use case by any means. That is an unfortunate development, albeit not a new situation by any means.

For the financial elite, the Bitcoin price is a top priority. Given the wild fluctuations throughout 2018, one would expect them to lose faith. Even so, there is a generally positive attitude toward cryptocurrencies and even initial coin offerings. This has become more apparent thanks to recent developments on Wall Street.


http://www.livebitcoinnews.com/bitcoin- ... velopment/

Return to “Opinion”