Why Bitcoin Is the Best Internet Currency
Governments across the globe are diluting their sovereign currencies more than ever to combat various economic crises. This is causing many to reconsider the consequences of their governments’ monetary actions and their lack of power to influence them.
In response, the narrative for an alternative currency is growing stronger by the day. People are seeing the merit of a currency where the decision to alter supply isn’t made without a vote or by a group of elites behind closed doors.
And currency investors are gravitating toward bitcoin . It’s seeing widespread interest from corporate treasuries, institutions, Wall Street, and more.
---->MicroStrategy, a publicly traded business intelligence company with a market cap of $1.6 billion, recently disclosed its corporate treasury holds 21,454 bitcoin . It believes bitcoin is a dependable store of value with more long-term appreciation potential than cash due to the depreciation of fiat currencies.
---->Institutions like Fidelity are beginning to onboard customers like Kingdom Trust, which are offering customers bitcoin cold storage through Fidelity Digital Assets.
---->Giants such as the New York Stock Exchange’s parent company, Intercontinental Exchange (ICE), Nasdaq, and TD Ameritrade are all beginning to roll out their own crypto platforms.
---->And popular publicly traded Grayscale products such as its Bitcoin Trust and Ethereum Trust have a combined nearly $4 billion of assets under management and are witnessing record growth.
What’s more is we’re seeing these developments translate to bitcoin’s fundamentals. Thanks to the network’s transparency, we know how many total wallets there are holding bitcoin and transaction activity.
The number of bitcoin wallets is at an all-time high. And activity on the network has only been higher once before – near the December 2017 peak.
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