Will Bitcoin become smarter for safety than holding Cash?
Major Banks buying Bitcoin
“Major U.S. banks might be willing to support cryptocurrency services – with just a bit of additional guidance from the Office of the Comptroller of the Currency (OCC), their federal regulator,” says CoinDesk’s regulatory reporter Nik De. This follows the OCC issuing an open letter in July saying nationally chartered banks could custody crypto. In public responses, 12 banks, including U.S. Bank and PNC, have expressed interest in providing such services.
Bitcoin Safe Haven Thesis
In what could be significant validation for bitcoin’s “safe haven” thesis, Nasdaq-listed MicroStrategy bought $250,000,000 in Bitcoin on Tuesday, effectively shifting its inflation hedging strategy entirely into digital assets. “This investment reflects our belief that bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash,” said CEO Michael J. Saylor.
So, Will Bitcoin become smarter for safety than holding Cash? Whats your thoughts?
Steven Monahan, Former fortune 100 financial executive. Founder Seeding Greatness, Licensee, Creator TEDx Dupree Park, Atlanta, USA.