Despite the economic turmoil being covered in the news worldwide, there is still investment going on in the cryptocurrency sphere. According to the digital asset management firm Grayscale, recently there has been $498.9 million invested into different cryptocurrency-backed trusts. While there is still debate as to whether Bitcoin can be considered the "digital gold" and be a safe investment for tough economic times like now, or that it is still to volatile, there are positive signs for the industry.
With large investments like this, and the price of BTC rising recently very quickly while investors are seeing the coronavirus take its toll on many other industries, there is more trust in the industry for many. In addition to more governments adding new laws to combat criminal activity being financed through cryptocurrency, I believe there is a lot of hope for crypto still.
Has any of these recent events changed your thoughts about cryptocurrency?
1 comment:
I think that the economic duress that this virus has caused people to seriously consider investment as a whole, in stocks, businesses, and cryptocurrency as well. The unexpected economic downturn has subsequently cause many people to consider other sources of income aside from their main job.
Post a Comment