At the Token Summit held on May 25, 2017, at the NYU Stern School of Business inwards New York City, Coinbase CEO Brian Armstrong noted the possibility of digital currencies in addition to cryptocurrencies such as Bitcoin replacing reserve currencies such every bit the USA dollar.
Over the past times year, Bitcoin has shown a meteoric ascent inwards value. Year-to-date, Bitcoin has already recorded a 375 percent increase inwards price, surging from the $900 portion to $2,400. Analysts convey attributed this recent surge inwards the cost of Bitcoin to the growing global awareness toward Bitcoin every bit a rubber haven property in addition to digital gold.
Both casual in addition to institutional investors catch Bitcoin every bit a rubber haven property due to its decentralized nature in addition to independent network. Within the peer-to-peer Bitcoin network, users tin laissez passer on notice mail in addition to have transactions without the beingness of intermediaries in addition to tertiary political party service providers. Because of this fiscal independence which Bitcoin represents, analysts in addition to investors have recognized Bitcoin every bit the choice to today’s existing banking in addition to fiscal systems.
More importantly, mainstream media, prominent entrepreneurs in addition to high-profile investors convey suggested the possibility of Bitcoin potentially replacing reserve currencies inwards the hereafter past times providing an independent, transparent, decentralized in addition to secure fiscal network for users.
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