I’m writing in response to the article titled “As Bitcoin goes mainstream, Wall Avenue appears to money in,” printed in your newspaper on Oct. 19.
The creator expressed a optimistic connotation on their view of Bitcoin and different cryptocurrency. I agree with these, comparable to there’s a actual distinction between cryptocurrencies and the inventory market.
That is proven finest by “…new Robinhood prospects had been extra more likely to make their first commerce in cryptocurrencies quite than in shares.”
As somebody who has invested within the inventory market, by utilizing the highest 500, I’m educated relating to the fundamentals of investing within the inventory market.
Seeing how Bitcoin has been used to commerce and create a revenue is similar to the promoting/shopping for of inventory.
The rich rent Wall Avenue professionals with information on methods to “use” the inventory market to create a revenue. Why can’t the identical be performed for Bitcoin? It may be, however I additionally see Bitcoin as extra accessible by means of buying and selling (like the brand new “easy-to-trade fund”), with the ability to pay with it by means of PayPal, and Twitter even provides it out as appreciation.
Wall Avenue has been known as “a playground for the wealthy,” however after studying that article cryptocurrencies may very well be added to that phrase with their digital presence. That is proven within the article by “corporations that cater to the world’s wealthiest households are more and more placing a few of their fortunes into crypto.”