Opinion
Everyone knows the story. When the first block of Bitcoin (BTC) was mined, the protocol itself entered a world of grave economic uncertainty. Not long before the market would hit its lowest point of the 2009 recession, Bitcoin was quietly created, dropped like a life raft alongside a then-sinking economy. The now infamous phrase “Chancellor on brink of second bailout for banks” was cribbed from the headlines, immortalized in code in the origin story of one of the most compelling, innovative, best-performing assets of the last decade.
But Bitcoin did not immediately take root beyond a small community of true believers. Bitcoin and digital assets, in general, have been a lot of things in their relatively short histories, from purely speculative investments and “magical internet money” to a crisis-time safe haven and an attractive hedge against “the great monetary inflation.”
Banks are still unprepared to deal with new technologies, but in order to survive, they must combine different forms of money: from cash and crypto to central bank digital currencies.
2020 has provided the incentive to rethink our approach to money A terrible year has still presented a unique opportunity to rethink how money is managed and used in our society. 6539 Total views Opinion
2020 has been a year of upheaval throughout the world. Overshadowed by the COVID-19 pandemic, the events of this year brought forth new challenges no one was prepared for, upending the way we live, work, and transact. Early this year, global financial markets took a severe hit as stocks, commodities and even cryptocurrency prices fell.
Against the backdrop of economic uncertainty and the declining value of the U.S. dollar, crypto assets are moving higher up the radar screens of commercial banks, hedge funds and other institutional investors. As we approach the end of a tumultuous year, it would be timely to recap the events that have been significant for the crypto industry this year, while looking ahead to new developments in 2021.
Bitcoinâs 2020 explosion is not the 2017 bubble again Early adopters who saw the potential in Bitcoin in the last decade have been waiting for this year their entire crypto investing lives. 27524 Total views Opinion
Bitcoinâs (BTC) recent volatile price corrections might conjure up images of the 2017 crash in your mind, or maybe even the crash caused by COVID-19 back in March of this year. But the fact that Bitcoin has reached $20,000 for the first time in history is not a reason to sound the alarm.
Despite the fact that the price of the worldâs most valuable cryptocurrency is up more than 225% this year, the current bull run weâre living through is unlike the Bitcoin mania we saw back in 2017. Far from it. There are four key reasons for this: