despite the libertarian fantasies that were being bandied about at the time, Bitcoin was unlikely to ever be a mainstream currency. Now it seems that Bitcoin is indeed collapsing and key figures in the community are starting to back away from it.
The reasons for Bitcoin’s failure are many, including poor governance, a lack of technological infrastructure and infighting within its community. Besides, as I noted in my previous article, the fact that sovereign governments have the power to tax in their own currencies always made a Bitcoin takeover unlikely.
Disclaimer
Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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