Lessons from Roosevelt for the Bitcoin revolution

SourceArabian Business
SectorFinancial Markets
CountryMiddle east

The development of digital assets is continuing at a dizzying pace. Although there are more than 6,000 cryptocurrencies, Bitcoin is the pioneer in this space and it has achieved a unique status among converts to digital gold. Its market capitalisation has reached one trillion dollars, accompanied by sensational headlines and some impressive records.

Today, more than 70 percent of holders of Bitcoin own fewer than 0.01 units, not counting those who hold their Bitcoin in regulated markets, such as Coinbase or Kraken, who account for another 15 percent.

For the very young and some conspiracy theorists, this cryptocurrency plays an active role as a haven from the monetary alchemists who currently run the central banks. Like gold, it cannot be printed by governments and it causes problems in terms of storage. In effect, Bitcoin, this cult object, can be viewed as digital gold. Indeed, the data show that the proportion of long-term buyers of Bitcoin is growing at the expense of...read more...