What Will The Future of Cryptocurrencies Be?
Everything is going digital now. Thanks to the internet, we can get many services and products. This digitalization is also effective in the finance sector. Many banks now offer people who want to become new customers to become customers without going to the bank. After the online applications, you can become a customer of the bank you want.
In the past, demand was very high and supply was low. So consumers would need to visit businesses to supply the products or services they demand. The entry of the internet into our lives has changed everything. Supply increased as demand increased. Now the competition is not what it used to be.
Those who want to get rid of the increasing competition are becoming digital. The impact of this digitalization has affected all industries. The financial sector has become digital and thus, it has begun to offer services faster.
The only thing that does not change is the change itself.
Those who keep up with change have become the new leaders of the world. Many tech-rich have sprung up, such as Bill Gates, Jeff Bozes, Elon Musk, Steve Jobs, Mark Zuckerberg, Changpeng Zhao.
By making the right investments, they got richer than kings. So what is the most important factor for this? The answer to this question is simple. You must either be the one who changes or keep up with the change.
Digital World and Digital Money
Digitalization, which has enabled the globalization of the world, has started to show its effect in the financial sector effectively for the last 10 years. It introduced a new investment tool into our lives, just like foreign exchange, gold, silver, and stocks. The number of these Bitcoin-led investment tools is increasing day by day. Interest in cryptocurrencies has increased rapidly in recent years. Moreover, if we look at the new rhetoric, besides being an investment tool, it is very little left to be used as digital currencies used in shopping.
Not everything is so beautiful, of course. The allegations that it is used as a means of payment in illegal transactions lowers the trust in cryptocurrencies. Moreover, it is biased towards cryptocurrencies, fearing that traditional currencies will be disabled in governments. Some countries aim to record investments made in cryptocurrencies. Even US President Joe Biden’s additional tax rhetoric has affected the prices of Bitcoin and other Altcoin.
Especially in recent years, it is known by everyone that ultra-rich people like Elon Musk use Bitcoin and Altcoins as an investment tool. In fact, Musk has serious effects on DOGE, which emerged as a result of a joke.
What Elon Musk has to say about Bitcoin and other altcoins is highly speculative. Under normal circumstances, he could even be found guilty for making these statements legally. However, the lack of a supervisory board and law for cryptocurrencies makes it speculative. What could be the reason why people with influence on society like Elon Musk act as if they want to be punished for these speculations?
Cryptos are legally recognized if a celebrity and influencer is prosecuted for speculation. Therefore, the need to introduce laws arises. In short, crypto coins become legally recognized. It is not yet clear whether cryptocurrencies will become legal or not. Because it cannot be used in buying and selling transactions yet. Governments are trying to get away from this issue, while companies try to get society used to it.
This struggle of both sides who want to keep the power of money …
Who will win the war?