WILL BITCOIN BE AROUND IN 5 YEARS? đź•“đź’±
Economists around the world have shared mixed opinions about bitcoin, Today ill talk about Doug Casey, founder of Casey Research, who not a long while ago had a very different opinion on cryptocurrency and didn't see how they could work as they didn't have the basic fundamentals to make up a currency.
Fast forward to his recent revelation admitting #bitcoin is indeed #money but he doesn't believe it will last. 🤔...hmmm
“The problem I had with Bitcoin to start with was the fifth point: does it have use value in itself, so you can’t get stuck holding the bag? And I said that was the problem with Bitcoin. But I was wrong about that… The bottom line, Bitcoin passes the medium of exchange test for the moment and store of value test for the moment. So you can definitely say it’s money—for the moment.” - Doug Casey
The value tests were based on the famed economist Charles Kindleberger
MOST POPULAR BOOK BY CHARLES KINDLEBERGER
Manias, Panics, and Crashes: A History of Financial Crises
Image source: Reading Length
Quotes by Charles Kindleberger
image source: The Burning Platform
As you've noticed, more and more #Bigfish are getting involved and pumping more cash into the #cryptosphere. From celebrities, NGOs and even Governments. They all want a piece of the freshly baked #BitPie and WANT to control it but one thing that #bitcoin has in its corner............IT CANNOT BE NEUTRALIZED
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