Bloomberg accepts Bitcoin – says cryptomonads are here to stay

Bloomberg accepts Bitcoin - says cryptomonads are here to stay

The mainstream media did not have a positive attitude toward cryptomonades in general. For the most part, the published titles are extremely critical and highlight the negative aspects (the so-called FUD). However, Bloomberg has recently remarked by mitigating criticism and recently acknowledged that “Bitcoin is here to stay”.

Bloomberg accepts Bitcoin and claims cryptomonads are here to stay

With prices back above $ 10,000, Bloomberg finally admitted that Bitcoin is here to stay.

“The obvious question is: If Bitcoin was just a bubble, how does it always come after all the clues show that it will collapse? The answer is that in one way or another cryptomonas are not just a passing trend, but they are here to stay. 

Since the beginning of this year, the Bitcoin price has risen by nearly 270%, despite the corrections recorded over the course of the year. Currently, cryptomoneda is traded around 11,200, after it reached nearly $ 14,000 last week.

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Commercial wars between the US and China stimulate adoption

Article Bloomerg continues to assume that the recent US-China trade wars could have been related to Bitcoin’s evolution over the past two months. They added that, most likely, China will not liberalize and continue to control capital. These could be factors that make people use Bitcoin, although it is still technically banned in the People’s Republic of China.

The second reason to justify Bitcoin’s evolution according to Bloomberg is related to tough US laws. With the proposed wealth tax, the rich will look for hard-to-find deposits that are hardly identifiable by government authorities. From this point of view, the BTC fits perfectly with their interests.

Facebook’s Libra project was also quoted as a boost for bitcoin. Of course, a billionaire and a bunch of technology monopolies in the US that control a global currency is not a good scenario. However, it will introduce the cryptomonas transfer concept to millions of people who could not otherwise have been in touch with this industry.

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Unstable savings and institutional interest

Increasing populism and increasing geopolitical and economic tensions across the globe could stimulate people to seek protection against fiat money. Again, Bitcoin is the clear solution. The gold price is a clear example, since it has reached a record level for the past six years, as the dollar collapses on the entire planet.

Bloomberg did not mention another important issue – the interest of institutional investors in Bitcoin and cryptomonas. Major investment firms, such as Fidelity and Grayscale, are preparing to enter this market. Bakkt is about to provide a safe way to enter the crypto industry by offering its institutional clients liquidity and competitive products.

In any case, bloomberg journalists accept bitcoin and confirm that financial space is changing and cryptomonas will be an important part of it in the future.

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