๐Ÿ”ฅ Crypto is winning the battle against Banks!

in HODL โ€ข last month (edited)

Hello!

During the last weeks we have been able to read news that confirms that large companies are investing in Bitcoin as a store of value. This point has not gone unnoticed by the major players in the payment sector such as PayPal, which has recently joined the party.

Many glances at Bitcoin that have increased its price to $ 13,000. This trend is far from stopping, more and more companies, banks and institutions are going to be interested in this great asset. This is going to cause a snowball effect that will catapult prices well beyond all-time highs.

Banks are suffering during this period of uncertainty caused by the virus. This 2020 has not been a good year for the economy and especially for the banks. While browsing twitter, I found a graph that shows the profitability of Ethereum and Bitcoin compared to major banks and companies that are betting on Bitcoin such as Square or Paypal.

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Source: @Crypto_potato

The results are clearly on the innovation side. It is clear that betting on cryptocurrencies would have brought positive results for banks. Sooner or later they will realize that they must invest on these types of assets, today the opportunity cost of not doing so is already too big.

There is a lot of money to be made and they are not going to let it go so easily. The regulations are already beginning to land in the parliaments of many countries, I believe that more than being a pain in the ass they will be a step forward for the mass adoption that we all expect.

There will be countries that will be crypto friendly and we will be able to find ways to avoid the dirty hands of governments touching our assets.

Enjoy! ๐Ÿ˜Š


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Banks have bailouts though while BTC and ETH doesn't and as much as some believe that banks are gonna go extinct or loose anything against BTC, I believe they won't. Banks will for sure issue sooner than later their own blockchains with their own tokens and getting the fees living their profitable lives further. It's just that they don't say it on public TV, but they've already embraced the vision of blockchain and crypto. Will for sure make it a reality their own way. The major problem that I see is with governments and banks issuing CBDCs that will kill all the privacy that the old money had to offer. Once all will be digital we won't have anywhere to hide and those strong entities will be in total control of our funds, lives, and access to finances.

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I still believe that governments and central banks have a really hard battle. It will not be easy for them to attract capital to their blockchains if the prices is to lose our privacy. We will always have options such as Bitcoin or other privacy coins.
The conclusion for me is that they will eventually get involved, and the effect will be positive long term.

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I hope you're right. Financially though, and considering that governments are made by bankers, they have all they need to turn the game in their favor.

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ย last monthย (edited)

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I am happy to see the good news about big corporations buying assets like bitcoin for preserving value.