Wedbush Analyst Says Bitcoin Is More Than Just A Simple Craze As Interest Soars

Although many are hesitant to invest in cryptocurrency, most notably that of Bitcoin, the fact nevertheless remains that this digital currency has garnered much interest in the world of business and trading. The main reason for this is because not only are financial bigwigs seriously considering investing in cryptocurrency, but Bitcoin in and of itself is quickly becoming a permanent fixture within the global marketplace.

Potential For Bitcoin To Become The Dominant Currency Soars

Managing director Dan Ives of Wedbush Securities insisted that the addition of a digital-based platform such as Bitcoin is useful not just for the prediction of any and all future prices but also for the overall potential ramifications that these platforms in addition to blockchains and ICOs can offer. He further commented that this kind of new digital currency could not only become the norm, but it can also have ramifications for technology and the corporate world in general well into the next decade.

The managing director further explained that the interest in Bitcoin is not just a phase, nor is it a fad. Rather, it is something that nearly all companies such as PayPal, Tesla, Visa, MasterCard, and even Nvidia, as well as numerous other companies and organizations across several verticals, will be investing in as it is the technology of the future in many eyes.

Bitcoin Adoption And Wedbush Securities Going Hand In Hand Since 2014

Not everyone is in favor of cryptocurrency, however. According to a report published by Wedbush Securities, Bitcoin could be argued to actually disrupt the financial market more than benefit it. This will also result in its value appreciates over time. Nevertheless, the use of cryptocurrency is flourishing as Tesla had recently confirmed that it had assigned a whopping $1.5 billion in cash reserves over to Bitcoin.

Ultimately, although Bitcoin’s nature and that of cryptocurrency, in general, has been seen as being extremely volatile, the fact remains that there is interest in this form of digital currency and online trading. Time will only tell, however, as to whether this will be for the benefit of the global financial market or to its detriment.