Cryptocurrency
First Mover: Bitcoin Attracting More Buyers, Even With Market Stuck in ‘Extreme Fear’
As reported by Coindesk, “Bitcoiners are abuzz over new data showing more people might be tiptoeing into the market. “Mass adoption has long been one of the main bullish investment theses for bitcoin. The bet is growing numbers of institutions and individuals will eventually come to understand the cryptocurrency’s virtues, from its potential use as […]
As reported by Coindesk, “Bitcoiners are abuzz over new data showing more people might be tiptoeing into the market.
“Mass adoption has long been one of the main bullish investment theses for bitcoin. The bet is growing numbers of institutions and individuals will eventually come to understand the cryptocurrency’s virtues, from its potential use as a peer-to-peer payment system to its potential as a hedge against inflation, like a digital version of gold. As the newbies pile in, prices will soar, the theory goes.
“Brian Armstrong, CEO of the major cryptocurrency exchange Coinbase, tweeted last week the frequency of deposits in the amount of $1,200 had jumped – a hint some recipients of coronavirus relief checks from the U.S. government might even be using the funds to buy cryptocurrencies…”