It is interesting to watch how the world is quietly adopting Bitcoin as a means of payment even in such stressful times.
Bitcoin mining is growing in these days and when the world is threatened with financial collapse, people are quietly turning to Bitcoin to store wealth and transfer wealth worldwide.
In times of crises gold and diamonds were one of the best ways to store and transfer large amounts of wealth due to their virtual indestructibility. Gold simply cannot be destroyed, dissolved or taken apart. Even if it is dissolved, gold can be quickly compiled together. Diamonds are another case in point since they are stones, very difficult to break.
Bitcoin, since it is approved by every user taking part in the transaction, is also virtually indestructible or eternal since the bits of information are contained in each and every computer of the user who took part in creating, validating and transferring the respective Bitcoin via the blockchain hashing algorithm.
The only way to "destroy" Bitcoin is to annihilate each and every computer which took part in the Bitcoin transaction. Which means literally hundreds of millions of computers. And even then every user could have downloaded the information on an USB or external hard drive.
Bitcoin is (almost) indestructible, like people.
I forecast Bitcoin's price could reach 250 000 USD in 7 to 10 years.
Why? Because Bitcoin and other cryptocurrencies are the greatest financial innovation ever, arguably.
Or at least cryptocurrencies are the cutting edge of economics, finance, financial technology or fin-tech for short.
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