Prateek Suri: Bitcoin is here to stay
Saturday, March 6th, 2021
Financial analysts predict that a huge demand for crypto is on the way as institutional money enters the market. After Bitcon entered Wall Street towards the end of last year, the credibility to blockchain and its uses as an alternative to conventional currencies was heightened.
Bitcoin's decentralized nature keeps it free from government manipulation or interference, there is no central authority to control it, creating what analysts call a Single Source of Truth (SSoT).
This makes Bitcoin fundamentally different from a fiat currency, which is backed by the full faith and credit of its government.
Fiat currency issuance is a highly centralized activity supervised by a nation's central bank. While the bank regulates the amount of currency issued in accordance with its monetary policy objectives, there is theoretically no upper limit to the amount of such currency issuance.
One of the most significant segments that you will have to cover right from the very beginning of your Bitcoin trading experience is the fact that in order to reach points of success you will have to know which route is the best one that will lead you there.
This is where the technological advances come into play, thus allowing you to explore the wonders that the Bitcoin trading platforms have to offer.
Understanding this, if you are just now starting to explore the Bitcoin trading process and you want to find the most convenient way to make trading profits, then the incorporation of this method is the best-suited approach for you.
When talking about the latest innovations regarding the world of Bitcoin trading, the most impressive feature is hidden in the Bitcoin trading platform algorithms.
This significant method is based on the latest Artificial Intelligence technologies that are used in a way to read the data that you provide with the creation of your trading account, thus get a chance to find the most profitable Bitcoin trading deals.
Furthermore, this Bitcoin trading algorithm can generate good returns from the ongoing news-driven Bitcoin volatility segments, thus help you find your way around the Bitcoin trading platform.
Have you paid for anything in cryptocurrency lately? The value of a single Bitcoin reached a high of USD50,000 for the first time in mid-February 2021.
Mastercard has announced it's bringing cryptocurrency onto its network. Tesla bought USD1.5 billion of it earlier this year and is already seeing a return, according to some analysts. Meanwhile, online investors have been pushing a currency called Dogecoin in a push to raise its value fast.
Tesla's acceptance of payments in bitcoin is more of a sign of approval for crypto assets gaining mainstream adoption, rather than something that customers will do en masse.
In January, the top U.S. banking regulator, the Office of the Comptroller of the Currency, said banks could use blockchain networks and stablecoins to carry out payments and other activities.
Growing client demand for digital assets, maturity of advanced solutions, and improved regulatory clarity present a tremendous opportunity for everyone to extend their service offerings to the emerging field.
Within this decade, Bitcoin's blueprint and ethos can redesign the Internet, the financial system and money in a way that fosters greater independence, choice and opportunity for all.
For now, I can surely say that bitcoin is here to stay and that it is not going anywhere. However, there are a lot of talks about what will be the best coins in the future? For me, they will be Bitcoin, Ethereum and Dogecoin.
Prateek Suri is a techpreneur, Chief Executive Officer (CEO) and founder of Maser. Maser is a UAE based electronics brand that is focused on low-cost consumer electronics