By Tobi Loba
Bitcoin has attracted a host of opinions regarding its potency to disrupt the world’s financial system. Great countries with stable monetary system have been perplexed at BTC growth and development. Bitcoin has strived over the years to convince the global village, and it has somewhat convinced to a reasonable extent, considering the time of its emergence.
This made Bruce Fenton, the CEO, and founder at Atlantic Financial, to quantify the financial strength of Bitcoin by explaining why the digital currency is absolutely political, coupled with being the strongest blockchain.
Bitcoin against Most Powerful Forces
Bitcoin (BTC), the first cryptocurrency has been put through the test of time. The digital currency clocked 11 a few days ago. This birthday was vastly marked by tons of Bitcoin and cryptocurrency enthusiasts across the globe.
The time interval between its inception and now is quite short to serve a means to judge whether it has passed the test of time. However, its achievements over the years speak volumes. BTC has diverted lots of attention towards itself, which has made many great countries of the world to feel threatened.
Its rooted features such as decentralized system of transaction, technology that governs its operation and lots more, could have been behind the supposed threat.
Bitcoin and cryptocurrencies like the underway Facebook’s cryptocurrency, Libra, have successfully initiated the decision of some countries such as China to propose the launch of digital currencies in the form of their respective national currencies.
This shows that Bitcoin has won a bit part of its struggle to rule across board in the global market. Could this ruling really play out? What about the fast-growing digital tokens like Ripple’s XRP global recognition and exceptional use cases? Time will do justice.
Bitcoin is Absolutely Political
Bruce Fenton, the founder at Atlantic Financial pinpointed the reasons why he sees Bitcoin as being political. His fact is drawn from the strongest world’s political powers, which the digital currency had battled over the years.
In his sentiment, Bruce averred that he expects anyone to contradict his stance, but the fact remains that Bitcoin is absolutely political. He furthered that BTC is preplanned to challenge and strike the most powerful forces in the financial world through their stronghold, the Central Bank.
He said, “Bitcoin is political. If that makes you uncomfortable, you‘re in the wrong place. Bitcoin is absolutely political. It’s designed to strike the most powerful & authoritarian forces on earth at the source of their power: central banks. PS: Bitcoin is the strongest blockchain.”
Bitcoin Market Situation
Bitcoin is still holding above $9,000 support level. Since BTC’s recent significant price surge and retracement a few days ago, it has been changing hands around $9,200 price level.
The next price trend of Bitcoin could be significant if past price actions are put into consideration. At the time of filing this report, BTC is trading at $9,340.43, with 1.61% price upsurge in the last 24 hours.
BTC is one of the least performers among other top 10 cryptocurrencies, as Bitcoin Cash (BCH) stars with 6% increase based on 24 hours estimation.