Are we finally going to live in the age of bitcoin? Citi GPS’s report, the innovation arm of Citigroup, states that bitcoin had left behind the past when it was seen as a “wannabe investment asset” and may be close to a massive adoption movement. The text confirms Transfero’s investment thesis that the asset is a hedge against inflation.
The document highlights that investors are attracted to its acknowledged role as “digital gold” due to its scarcity. In addition, it mentions that specific enhancements to exchange, trading, data, and custody services are increasing and being renewed to accommodate the needs of institutional investors.
Bitcoin: The currency in the digital age
The study also says that disruptive innovations require less and less time to be massively adopted. It took 50 years for the telephone to reach 50 million users, 22 years for television, seven years for the Internet, and only 19 days for Pokémon Go.
The report further notes the advantages of using bitcoin for global payments and encouraging it to become the currency of choice for international trade. However, today the stablecoins fulfill that role much better.
Regarding the risks, Citi mentions that the opportunities are more significant than risks and that bitcoin is at a turning point.