In my last blog, I went out on a limb to predict that a bitcoin resurgence was on the horizon, and this week the digital currency hit an all time high on the Bitcoin Price Index (BPI), closing out at $1,172.09.
Amidst all of the bitcoin hype, Rebecca Ungarino, with CNBC, penned an article titled “Bitcoin is surging – but that might not mean what you think” (Ungarino, 2017).
Ungarino gives credit to Bitcoins increasing presence in the mainstream, even pointing out big name players such as Microsoft, Subway, WordPress, and JP Morgan, with the latter also advancing the related Blockchain FinTech, but she doesn’t seem convinced that it will truly become a mainstream currency. She attributes much of the growth to just the recent highs in the equities market.
I’m not ready to take a victory lap, but I do believe that in this unstable global political environment, Bitcoin will continue its march towards mainstream acceptance. I agree that the volatility will remain, but the underlying trend of increased participation by more and more reputable companies will give this technology the support it needs, and deserves. Stay tuned.
Ungarino, R. (2017, February 23). Bitcoin is surging – but that might not mean what you think. Retrieved from www.yahoo.com/news: https://www.yahoo.com/news/bitcoin-surging-might-not-mean-174606526.html