Why Bitcoin is now too important to ignore

Why Bitcoin is now too important to ignore

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Earlier this week, the price of Bitcoin surged over $61,000, gaining more market dominance at the same time. While questions around its volatile price and potential to hedge inflation remain, experts like French economist, Marion Laboure concluded that Bitcoin is now “too important to ignore. Other than BTC’s trillion-dollar market cap, its “scope for a continued rise in prices,” play key roles in its growth. 

Even central banks and governments understand that “Bitcoin and other cryptocurrencies are here to stay,” Laboure argued. She stated governments will “start regulating” crypto-assets “late this year or early next year.”

The economist suggested Bitcoin fell short in some areas; she said that when it came to “transactions and tradability,” the crypto is “still limited.” More importantly, the researcher raised the question: 

…The real debate is whether rising valuations alone can be reason enough for bitcoin to evolve into an asset class, or whether its illiquidity is an obstacle.

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