Why every time I see this type of news I think of how people saw auto vehicles when these were invented, over a century ago, and how even tech folks were not giving internet any chance back in the 80's. Now we have Bitcoin, along with its concept based hoard of cryptocurrencies, ready to take the world and it looks like the narrative is deemed to repeat.

According to Deutchse Bank, which by the way has been heavily involved in money laundering and other illegal activities over time, Bitcoin is now the third largest currency in the world, after the USD and EUR. The Japanese yuan is supposed to be the fourth. My gut feeling tells me that in five years from now Bitcoin will at least overpass EUR, if not USD too, but this post is not about gut feelings.

"Bitcoin’s market cap of $1 trillion makes it too important to ignore. As long as asset managers and companies continue to enter the market, bitcoin prices could continue to rise. n terms of total currency in circulation, bitcoin is the third-largest in the world, after the US dollar and the euro."
-Marion Laboure, Deutsche Bank Research source

First they laughed at Bitcoin, then they ignored it and now they acknowledge it as the third largest currency in the world. They, meaning bank's people and influencers, are still not inclined to call Bitcoin as the future of money and are betting on central banks and governments regulating its ass in the year to come. Try and read between the lines of the quote below, excerpt from the same above linked article...

"In the long run, central banks are unlikely to give up their monopolies. And as long as governments and central banks exist and hold the power to regulate money, there will be little room for bitcoin—as a means of payment—to replace traditional currencies."

Indeed, Bitcoin might not be the currency of the future and they will definitely try and regulate the hell out of it so it won't become that. It probably doesn't even have the pedigree for that. That doesn't mean though that we don't have potential candidates for such role and to that regard I assume that there's gonna be a fight between our stable coins and their shitty government controlled CBDCs for the role of world wide accepted currencies.

At some point we will either see an economical division, or the two worlds merging together. I honestly have no clue what exactly the situation will be. I do know that recently Fed Chair Powell Doubled Down on Bitcoin as Digital Gold which in his opinion is "essentially a substitute for gold rather than for the dollar." Spot the fear again?

It's a threat for the gold, not the dollar... On this one Powel is basically showing the eyes for Bitcoin, but once again feeling the need to mention that Bitcoin is highly volatile and it's backed by nothing. Well, how do you call the Turkish Lira then, which is 17% down today? Isn't that volatile as well? This guy and others from his branch are clearly not working for the people and have no interest in opening the people's eyes but once you pay a bit of attention to the psychology behind all of this you get the course and can have a glimpse of the future.

Deep inside, folks like Powel and that Deutsche Bank researcher know that crypto has an indestructible future, but it's not in their interest to go on TV and admit that. If I can realize what a massive impact blockchain technology and cryptocurrencies will have on this world in probably less than a decade, how can they be so ignorant... They're not, just pretending to be, and faking it.

We need to take an important aspect into account though: Bitcoin will at some point peak in dollar valuation and once again retrace into a bear market, but even so it might still hold its place as the third world's cryptocurrency and the road it's paving is of unprecedent. Bitcoin and the whole crypto industry at this point is too important too ignore. Powel said it, not me...

Thanks for attention,
Adrian