Bitcoin With PayPal Did not Move the Needle of Attitude among Traditional InvestorsNovember 19, 2020
Bitcoin advocates have to claim that after performing better than gold, BTC is getting identified as a better hedge against a weak dollar or as something that provide for a pick up against inflation.
The Federal Reserve Quantitative easing and the higher government debt has put investors looking for something better. Several institutions are jumping in to take a position with Bitcoin. Several arguments which talk for cryptocurrency being a store of value is only increasing every day. Those who are just trying to understand Bitcoin are filled with the FOMO.
BTC has obviously established credibility among more than just mom and pop investors. Forbes recently pointed to how the list of 20 institutional Bitcoin Investors are revealed and on how the list might soon vanish.
Forbes has pointed to how “It’s very difficult to have a clean one-to-one signal on who’s entering and exiting the space,” further stated, “But there are some very interesting proxies that can gauge institutional interest.”
In this regard, Sydney Ifergan, the crypto expert tweeted: “The traditional markets are not doing a great job by printing lot of money. Bitcoin (BTC) is still nascent. It has time to make it to the market and establish itself.”
BTC should be Useful for Everyday Buying and Selling
Despite all the hype and adoption from institutions, BTC has a long way to go if it should replace the fiat currencies. Though big corporations taking to the BTC can be attractive to the mass, most of them are with a traditional investment mindset and they are not ready to accept the BTC hype being bystanders.
The price of the BTC definitely did shoot up to as high as $20,000 but it tumbled down very soon. Investors who are looking at some kind of certaintly might not be sure if they need to take a position with BTC.
Bitcoin to date is mostly put to use for speculation. For BTC to become an everyday thing, it should be possible to use it for everyday purchases. And, now BTC can be purchased from PayPal, when they make it possible to buy and sell stuff with BTC, perhaps things might change.
For now, speculation is the best use case for Bitcoin, invest some value watch it grow can cash out is the way investors are looking at BTC right now.
PayPal like stuff did not move a needle to impress an average traditional investors except perhaps help them understand the Bitcoin is valuable.