Why inflation – not the crypto crash – will define Bitcoin
— Crash, Currencies, Market, Inflation, Investors, Define, Bitcoin, Crypto, International, Trade, Digital, Store, Value — 1 min read
Bitcoin is at its lowest price in 18 months and the resulting headlines are dramatic. Beyond valuation, Bitcoin is finding new utility in this moment of market madness. The biggest and oldest coin is showing promise on several fronts – from governments exploring it in international trade to investors searching for a digital store of value. Inflation is eroding the purchasing power of the dollar in today’s global economies, writes Andrew Keen. Keen: Further market maturity is required before Bitcoin is fully embraced as a store-of-value. A mature market counts long-term investors who can afford to weather price drops. This year's volatility doesn’t reflect a mature market – yet, expect to see institutional investors and crypto-specific funds act as stabilizing forces. Source