Mon, October 03, 2022

Bitcoin as a form of investment

Gold

Digital currencies are becoming more popular around the world. At the moment, crypto owners can purchase a lot of products and services. Bitcoin and other cryptocurrencies are actively developing, and this creates a new opportunity for the current as well as potential crypto owners.

  This week, the head of Facebook’s digital currency projects, David Marcus, attended the New York Times DealBook conference in New York. During his speech on Wednesday, he compared Bitcoin to gold. Marcus said that Bitcoin is digital gold.

According to David, a person can use Bitcoin as a form of investment. It means that largest digital currency, as well as gold, can serve the same function.

However, Facebook’s crypto boss said that this cryptocurrency is not the best option for people who would like to send payments abroad.

It is essential that David Marcus who is working to create Bitcoin’s competitor understands the importance of Bitcoin.

However, there is a huge difference between Libra and Bitcoin. Libra’s value will be tied to currencies such as the U.S. dollar and the Euro. This decision should help to make Libra more stable than Bitcoin, which is vulnerable to volatility.

Libra must deal with various problems. Several founding members of the Libra association left the project.

The CEO of Facebook Mark Zuckerberg, as well as David Marcus, tried to reassure the U.S. lawmakers that they are can handle the situation. According to the initial plan, Libra should become available by mid-2020. However, due to the backlash, Facebook and its allies may have to postpone this project.

Bitcoin and Canadian crypto community

Canadian crypto community

The Bank of Canada gathered information about Canadians awareness as well as ownership of crypto assets. Recently, the central bank published the report based on the results from the Bitcoin Omnibus Survey.

The good news is that the number of crypto owners reached 5% in 2018.

 The share of Canadians who are aware of Bitcoin increased from 62% to 89%. It means that between 2016 and 2017, the number of people who know about crypto grew by 27%.

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