Bitcoin and Digital Currency Fever

November 11, 2017
Jamie Hopkins

Bitcoin and Digital Currency Fever

Professor Jamie Hopkins was recently quoted in two articles by ThinkAdvisor where he discussed the rise of Bitcoin and other cryptocurrencies. While Bitcoin is the most popular cryptocurrency, there are about 1,000 in existence today. Other popular cryptos include LiteCoin, Zcash, and Ethereum. Each currency has its own pluses and minuses from a user or investment standpoint. Professor Hopkins, while a big proponent of digital currencies believes that certain investment focused approaches to  them could be misguided. Cryptocurrencies should not be viewed as a true investment, but instead a hedge or diversification of currency. It can also be used as a speculative investment, but there are no earnings or growth models to show the future of a digital currency.

Professor Hopkins believes the rise in digital currencies is just beginning. This is really a technological advancement of currencies past out-dated and traditional forms of currency. A move away from a government controlled currency could also function as an alternative to the USD. The USD serves as the world leader for money. Most banks rely on the U.S. dollar and more U.S. dollars sit outside the United States than within. However, dollars are inefficient. They break down and fall apart. Coins are expensive and bad for the environment. Digital currencies can function to offset some government related currency risks and reduce costs of currencies over time.

The rise of digital currencies is the wave of the future. It also shows that there is a large group of people that do not believe in the the traditional systems of monetary control. These people want another option.

To learn more and read the two articles, click the links below to see the ThinkAdvisor articles featuring Professor Jamie Hopkins.

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