Bitcoin, Nasdaq: “zero chance that cryptocurrencies will replace the US dollar”

A few hours ago, on the Nasdaq blog, an article was published that talks about Bitcoin and cryptocurrencies to explain the pros and cons to an audience that is not yet used to the subject.

The article , whose title reads “Bitcoin and Crypto: fraud or the future?”, Answers three questions, namely:

  • Is Bitcoin a Ponzi scheme?  
  • Does Bitcoin threaten the US dollar?  
  • What is the most interesting aspect of Bitcoin for speculators?  

The Nasdaq has long been listing Bitcoin-based funds, not least the 3iQ included in the Dubai Nasdaq This obviously shows how the team behind the stock exchange’s equity index is optimistic about Bitcoin and certainly does not consider it a Ponzi scheme.

Indeed, the author of the article suggests that the blockchain has many applications and that the Proof of Work, or the consensus method on which the technology behind Bitcoin is based, is what makes BTC safe and therefore, despite the detractors, it is obviously it can be ruled out that it is a well-organized scam.

However, the answer to the second question is especially interesting, when the author of the article explains that there is “virtually zero chance that cryptocurrencies will replace the US dollar”.

Indeed, the article suggests how Bitcoin:

 “Is more properly seen as a competition (or an addition) against gold. In fact, counterintuitively, we view Bitcoin as a support for the US dollar. “

Bitcoin and gold according to the Nasdaq

Defined as “digital gold”, this certainly isn’t the first time someone has compared Bitcoin to gold. But recently, an analysis by James Gard published in Morningstar argued that the two assets could somehow coexist alongside each other for some time yet, coexisting within the financial system of the future.

The regulation of Bitcoin

Another interesting point of the article published on the Nasdaq is also that relating to regulation, explaining that appropriate regulation could facilitate the mass adoption of cryptocurrencies :

“Regulation could mean acceptance. Paving the way for institutional adoption. Bad regulation is a risk, but proper regulation could facilitate mass adoption ”.

Finally, the report continues showing how Bitcoin is an asset not related to the stock exchange or equity hedges.

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