“Bitcoin , world’s first decentralized cryptocurrency is not only an attractive high return fetching investment, but it is also a potential solution for a global strained financial system” says a fund manager.
According to Rainer Michael Preiss, executive director of Taurus Wealth Advisors, “The current debt-based market with unlimited supply and limited borders, allows for too much quantitative easing, which is behind the problem of too much debt and too little growth. Here is where Bitcoin comes in!!!”
“Governments are potentially having long-term issues with debt repayment, and the world is suffering so much debt. Maybe the world needs an alternative — in the sense that it (Bitcoin) is an asset-backed currency with limited supply,” he told CNBC.
Preiss said, “The technology backing bitcoin (Blockchain) has the potential to go beyond financial markets, into a new social structure, with the fourth industrial revolution and developments in artificial intelligence. Bitcoin is already occupying a considerable position in global financial markets. Bitcoin’s market capitalization overtook Deutsche Bank just as of last week, so that shows you how to some extent the world and things are changing”
Preiss also mentioned concerns about the adoption of the cryptocurrency in Illegal/Criminal activities are valid, but he compared it to the U.S. dollar to explain how not all cryptocurrencies are bad. The dollar is the most common medium for criminal transactions, but it wouldn’t make sense to shun that currency.
“The question that always comes is: Is it a currency?” Preiss said. “Well that’s maybe too limiting — it’s much more than that, it’s actually a token. It’s distributed trust and distributed consensus.”
Bitcoin, the virtual currency is now being used like a currency rather than just an investment opportunity. People are now accepting the virtual currency in forms of payments in exchange of good and services. International remittances are taking place in Bitcoins because it is fast,cheap , easy and most importantly it does not involve ant third-party.
On Apri 1,2017 Japan legalized Bitcoins for retail transactions, which was one of the reasons behind the massive surge in the virtual currency’s price to an all-time high last week. Similarly Australia legalized it too and even declared that Bitcoin can be used “Just Like Money”
KryptoMoney.com posts some use-cases of Bitcoin on regular basis where it is actually being accepted in exchange of goods and services. For example:
->Peach, a low budgeted Japanese Airline company announced that it will start accepting Bitcoins by the end of this year. The company also mentioned that it will install Bitcoin ATM’s at the airport.
->Subway, a global health food eatery is also accepting Bitcoins in some of it’s branches.
->Ulmart.ru, Russia’s largest online retailer also announced that it will start accepting the virtual currency for it’s luxurious products.
Our readers are suggested to go through our Bitcoin section to read more used cases.
KryptoMoney.com posts latest news and updates about Bitcoin, Cryptocurrencies and Blockchain. Subscribe to our newsletters and never miss any story.
Also Read:
List of companies accepting Bitcoin
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
