I’m writing in response to the article titled “As Bitcoin goes mainstream, Wall Avenue seems to money in,” revealed in your newspaper on Oct. 19.
The creator expressed a constructive connotation on their view of Bitcoin and different cryptocurrency. I agree with these, akin to there’s a actual distinction between cryptocurrencies and the inventory market.
That is proven greatest by “…new Robinhood clients had been extra prone 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 concerning 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 data on methods to “use” the inventory market to create a revenue. Why can’t the identical be executed for Bitcoin? It may be, however I additionally see Bitcoin as extra accessible via buying and selling (like the brand new “easy-to-trade fund”), with the ability to pay with it via 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 could possibly 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.”