CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Seeking Alpha 2021-06-08 13:30:00

China And Pool Mining Are A Threat To Bitcoin's Fundamental Premise

Commenting on current movements with regards to Bitcoin is boring and basically impossible to substantiate.People are investing in Bitcoin due to tail-risks associated with the financial system and as a mad-money asset, which are not bad reasons to hold it.But we think Bitcoin is not the right instrument to hedge these risks with, as it faces specific risks that undermine its fundamental premise of being an incorruptible currency.Not commenting on whether Bitcoin is in a speculative bubble right now, we think that long-term risks around China could decimate it, and it should be avoided at all costs.Blockchain and crypto are definitely to be followed, but we think Bitcoin is especially risky and that the diplomatic power of China in connection to its currency should be watched.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.