It's a digital world

There has been a shift in the perception of crypto currencies. When crypto currencies first came out it all seemed a bit, well weird. Hearing about them was like listening to a physics class combined with a computer class. All a bit geeky and weird. However, what was once sneered at is now being adopted. Digital cash has central banks around the world moving to try to keep up. Cryptocurrency was once seen as the main reserve for the terrorist/criminal/new generation fan. Now that's changed. Just recently the ECB is said to be seriously considering the use of a digital currency. With COVID-19 fast tracking a digital revolution it is easy to see why now is the time for a further shift to digital currencies. See here.

It's a digital world

Facebook proposed a new currency and spooked central banks

When Facebook proposed a new digital currency that rang alarm bells. If the couple of billion facebook users could access a digital currency that could undermine global financial sovereignty, privacy, and central bank's role to enact monetary policy to ensure the stable running of domestic economies.

Why this matters?

  1. It means crypto currencies are facing wider adoption.
  2. Bitcoin stands to gain as the 'digital gold' in a cryptocurrency world. More and more companies are putting their reserves into Bitcoin. A wider adoption will suit the price of Bitcoin especially as there are only a limited number of coins that can ever be mined. See my recent piece here.