Nov 15

Bitcoin Is Mainstream

Bitcoin’s continued rise has attracted Wall Street and the Futures market.  It’s no longer limited to the Dark Web for drug dealers and other underhanded tradings.  Some of the information in this article is not accurate.  Bitcoin did not fall to $1200 in September, for example, but I wanted to share it anyway.

Why Bitcoin Now Wears a Suit and Tie, and Will Soon Reach $10,000

Guest Writer on 14/11/2017

Cryptocurrencies were once the ‘bad boys’ of finance, traded on the Silk Road rather than Wall Street. But adoption by futures traders will ensure new found respectability for Bitcoin and push its value to five digits within months, argues David Jinks, Head of Consumer Research at e-commerce fulfilment experts ParcelHeroHe is lead author of 2030: Death of the High Street, and appears regularly on national radio and in the national press discussing the impact of e-commerce; the rise of cryptocurrencies and the potential consequences of Brexit for exporters.

Back in mid-September, when Bitcoin’s value fell to a ‘mere’ $1,200 thanks to the Chinese crackdown, it looked as if Bitcoin’s dark-web past was coming back to haunt it. There’s no getting round the fact that many cryptocurrencies originally grew in value because of their use buying on the dark web.  Larry Fink, CEO of BlackRock, called bitcoin an “index of money laundering.” And Jamie Dimon, CEO of JPMorgan saidin September: ‘If you were a drug dealer, a murderer, stuff like that, you are better off doing it in bitcoin than U.S. dollars,”

Source: Cryptocoins News


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