The bitcoin bubble has popped, but here's why Meltem Demirors believes that's good for crypto…
Cryptocurrency and blockchain expert, Meltem Demirors spoke to CNBC earlier this week about why she believes Bitcoin’s traction is still to come.
Demirors explained that Bitcoin’s story is hard to understand, but that is exactly how early internet technology, such as Microsoft, Amazon, and Intel, were in the ‘90s. (We have a pretty cool article explaining how blockchain works if you're interested)
"New technologies that shift the paradigm take a long time to really understand". Meltem Demirors, CoinShares CSO; Athena Capital founder.
With the price of bitcoin topping NZD $25,000 back in December, the speculative bubble has long since burst as we have witnessed a steady downward trend. Demirors stated that price is an imperfect metric for the currency. Instead, we would be better to focus on the total addressable market and the penetration rate of that market. In other words, utilisation of blockchain technology on a day-to-day or month-to-month basis and the businesses being built around the technology.
As for use cases of blockchain technology, we are seeing a wide range of projects in play ranging from solutions for the 1.7 billion unbanked, supply chain tracking in the fashion industry, to the massive capital being raised in various ICOs. Whether it takes five, ten or twenty years to realise the true value of cryptocurrencies, it will be an interesting journey nevertheless.
How to Buy Bitcoin (BTC) in NZ?
To easily buy bitcoin (BTC) in New Zealand you can do so right here, at BitPrime. First, if you haven’t already done so, please register an account with us and have your ID verified. Finally, visit our Bitcoin page to order your BTC. If you require any further assistance, please contact us and we will be happy to help.
Important Disclaimer: The above references an opinion and is for informational purposes only. Do not take this as personalised financial or investment advice. The opinions expressed by the author do not represent the opinion of BitPrime.
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Last updated: 19/08/2018