The interest and popularity of Bitcoin, and the crypto industry in general, may be growing, but a major Dutch financial institution is still not convinced that global adoption is a given.
Even though this has been a bit of a rocky week for our favorite crypto, its still important to remember the positives, like CBOE and CME having recently launched futures trading, and the fact that central banks could be holding it in their reserves come next year.
These seem to be definitive steps in the direction of mainstream integration, right? Well, ING, which is a Dutch multinational financial services group, doesn’t seem to think so.
No Option for Adoption
According to RT, Teunis Brosens, Principal Economist at ING Amsterdam, detailed his thoughts on the matter in his Economic & Financial Analysis report:
What they regard as key benefits, may actually be impediments to wider adoption. Users will include tech nerds, people obsessed about their privacy, people afraid of (hyper) inflation in traditional currencies, and people wanting to circumvent central banks for ideological or criminal reasons.
In addition, Brosens does not consider Bitcoin to be “a normal investment asset”. This is because the decentralized currency does …
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