He discussed the top crypto features that can address the world’s current financial challenges. According to Mr. Hywel, BTC is more accessible than cash or bank cash, so it becomes increasingly popular in developing nations, where about 1.7 billion adults remain unbanked. George added that besides being a potential medium of exchange, Bitcoin also serves as a store of value in an inflationary world.
Challenges for bitcoin
Despite the bull cases for Bitcoin, George says that there are still problems with the king coin. The first one revolves around the issue of security. He notes that mining cryptocurrency requires enormous amounts of energy, which can be damaging to the environment. He also mentions Tether (USDT), the stablecoin pegged 1 to 1 against the US dollar that faced the accusation of being used in a fraudulent scheme to pump bitcoin’s price.
Future of bitcoin
George thinks that Bitcoin is in a bubble. He says BTC has not gone up because it is a store of value, but rather because of the current mania around crypto assets. He notes that the prices of all other cryptocurrencies have also increased. He believes in the long-term potentials of the leading cryptocurrency though and tells investors what they can expect from BTC in the long run. Watch the video: Bitcoin and Cryptocurrencies – What on earth is going on?
