One of the statements done by the CEO of Coinbase has received much attention in the Bitcoin community recently. He explained that digital currencies, such as Bitcoin are more likely to become reserve currencies in the future. As a result, it is important for the people to deep dive into this fact and figure out whether it could take place in reality or not.
The official statement was delivered by Coinbase CEO, Brian Armstrong, at the Token Summit of NYU Stern School of Business, New York City on 25th May, 2017. As we already know, traditional currencies such as USD are being used at the moment for reserve currencies. As per Brian, they would soon get replaced by the cryptocurrencies and digital currencies.
If you take a look back at the value of Bitcoin for past 12 months, you would realize that it has gone through a meteoric increase in the value. In other words, the value associated with the cryptocurrency has been increased by 375% within the past year. It was just $900, 12 months back and now the value has surpassed $2,400. This is not a small amount that can be neglected. A large number of analysts have deep dived in order to figure out the exact reason behind the price hike of Bitcoin. They are looking forward to create global awareness about it. The primary objective of these awareness sessions is to convince people that Bitcoin is an excellent asset available for them to invest their money in. So far, people have been considering that traditional assets such as gold are ideal for investment activities. However, Bitcoin has been transformed into digital gold. If you are looking for an excellent business opportunity in today’s world, this is one of the best options that are available for you