July 17, 2018
Should a potential cryptocurrency market participant seek the relevant information he or she needs to conclude whether the purchase of Bitcoin is a sound and prudent investment, an initial online search for anything Bitcoin related will return a tidal wave of misinformation and negativity. This has not always been the case. There has been a relatively recent onslaught of press denouncing Bitcoin and negatively-charged commentary by uninformed, amateur retail investors. Unfortunately, much (if not most) of the negative press is generated either by organizations who only seek to capitalize off the recent limelight surrounding digital assets like Bitcoin, or by individuals who entered a position in this emerging market with the expectation of getting-rich-quick only to have their dreams shattered by a combination of impatience and market volatility.
When any prospective Bitcoin purchaser manages to dig through the above-mentioned layer of malicious publicity, they will inevitably arrive at more civilized discussions on Bitcoin, as well as its underlying technology. Information and opinions articulately presented by experts cast little to no negative light on Bitcoin. Experts in finance describe Bitcoin as a safe and secure decentralized storage of value, often referring to it as digital gold, as well as the many advantages attributable to Bitcoins usages as a method of transaction. Developers and entrepreneurs in the tech-space, both new and well-established, have spoken extensively on Bitcoins underlying technology, praising its blockchain and distributed ledger model as nothing less than revolutionary for both producers and consumers in the global market economy.
Despite recognition of an ever-increasing number benefits this particular digital asset has to offer, the growing argument for imminent wide-spread adoption, and the overall institutional enthusiasm surrounding Bitcoin, there is still a large barrier to entry for many interested. Prudent institutional investors as well as their clients have consistently noted a desire for the accumulation of Bitcoin, however they are hesitant to enter the market due to a lack of regulatory oversight and security assurances over their capital. An approval here would allow for the establishment of a safe and regulated atmosphere, within which informed institutional investors are allowed to participate, should they choose to.