Major Media Company Bloomberg Declares "Bitcoin is Legit"

in #bitcoin3 years ago


Bitcoin has gone through not one, but two major milestones today in becoming a globally accepted currency option. Bloomberg today announced that “Bitcoin is going legit, for better or worse.”

Now that Bloomberg has gone out of their way to state the obvious, other major media organizations will no doubt jump on the bandwagon. It’s a growing sign that bitcoin, which still meets with skepticism and negativity from the general public, is rapidly growing mainstream.

The major news that brought the Bloomberg declaration was CME Group announcing that they would begin trading in bitcoin futures by the end of the year.

As a sign of the rapidly changing landscape and the massive institutional capital that will begin to flow into digital currencies, a top CME executive had said only one month earlier that they would not start trading bitcoin futures.

All this as the Bitcoin price blows past the USD7, 000 barrier. The continual abundance of mainstream media reporting on digital currencies and potential announcements by major financial firms about new initiatives in the next few weeks will likely push bitcoin prices in the coming months to the record USD8, 000 level.

With the rapidly changing landscape, big institutions will begin to pour more and more money into digital currencies. The USD7, 000 level might just the beginning as Bitcoin tests new highs on a weekly basis.


i have done its your turn to my post

Followed you and upvoted five of your recent posts

With less than 1 in 800 adults having any exposure to bitcoin, I think there is a long way to go.

I know that after the recent price rises, some will say that it's too late to buy bitcoin. That's a bit like saying "it's too late to get email" or "it's too late to get on the internet" in 1995.

We are a very long way from mass acceptance and adoption and there is no end of top investment advisors saying "I'm skeptical about it".

Today in 2017, I'm seeing the same fund managers who refused to go near tech in the 1990s running growth funds which own yesterday's winners like Facebook, Microsoft, Amazon, Twitter and so on.

So it will be 20 years from now.

Thanks for the upvote!

I also agree that there’s a long way to go. I just did a focus group with 10 people and almost everyone had no interest. But one of them wanted to know what the heck is going on with cryptocurrencies? Haha!
I just went through your recent posts, there’s a lot of good stuff there! Will definitely check back on your posts!

Nice post, bitcoin is taking over time shall tell.

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