Bitcoin Trading More Like A Speculative Asset Than A Store Of Value, Report Says
According to a recent report by Bitfinex, Bitcoin (BTC) remains range-bound between $91,000 and $102,000 amid heightened geopolitical uncertainty fuelled by US trade tariffs on countries such as Canada, China, and Mexico. The report highlights that latest trends suggest BTC is increasingly behaving like a risk-on asset rather than a traditional store of value. Bitcoin […]
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A recent report from the Annual Economic Report came with several insults on Bitcoin. According to the report, crypto is not money but a speculative asset. One which carries no real value. It highlighted that Bitcoin and other cryptocurrencies have very few redeeming qualities when it comes to the public good. “By now, it is […]
A group of researchers from SWIFT institute have published a paper on the influence of Bitcoin and other digital currencies on fiat ecosystem. Is Bitcoin a threat to the traditional monetary system and financial institutions? A group of SWIFT Institute researchers refuse to believe so. A working paper titled “Virtual Currencies: Media of exchange or speculative asset?” published by Dirk G Baur, Kihoon Hong and Adrian D Lee analyzes the dynamic relationship between both the currencies. In the report, they present a theoretical model used to gauge the potential impact of Bitcoin and other....
The DNA that underpins bitcoin and the dollar sets these assets on diverging paths, creating incentive to borrow dollars and buy bitcoin. The post Asset DNA: Explaining Bitcoin’s Speculative Attack On The Dollar appeared first on Bitcoin Magazine.
Goldman has flip-flopped again declaring crypto assets as unworthy of investment in the same week it expands its crypto trading desk. Wall Street investment bank Goldman Sachs has made another U-turn on its stance toward Bitcoin as it struggles to define the asset’s investment status.The investment bank flip-flopped again in its approach to cryptocurrencies with a report issued earlier this week that claims they are not a “viable investment”.The report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, concluded Bitcoin is not “a long-term store of value or an investable....
A new report from the SWIFT Institute has found that fiat currencies are more likely to crowd out digital currencies such as bitcoin. The paper, Virtual Currencies: Media of Exchange or Speculative Asset? [PDF] analyses the dynamic relationship between virtual currencies, such as bitcoin, and fiat currencies. The research looked at whether or not the design and the size of virtual currencies could pose an immediate risk to monetary, financial or economic stability. The paper found that fiat currencies are more likely to crowd out virtual currencies and that the design and size of virtual....