Chris Burniske: Bitcoin And Crypto Gets Further Away From Mainstream Adoption

Chris Burniske: Bitcoin And Crypto Gets Further Away From Mainstream Adoption

Bitcoin  (BTC) became the investment of the year during 2017. Bitcoin and the cryptocurrency market surged to an all-time high because of the influx of hungry investors. However, it is clear that the hype is not what it was and some say bitcoin is almost forgotten.

Bitcoin and crypto is disappearing from investors minds

Chris Burniske is a leading cryptocurrency analyst, researcher and author. He is a partner at Placeholder Venture Capital and co-authored the book “Cryptoassets.” He commented on Twitter that the mainstream has forgotten about bitcoin.

It goes without saying that last year cryptocurrencies took a big hit when it comes to speculation and price. At the beginning of last year, cryptocurrencies and bitcoin occupied media, computers and phones all over the world. Mainstream media such as CNBC, Bloomberg and CNN covered topics daily.

It is now history, and most want to forget about bitcoin, especially the people who invested at the beginning of 2018. The media outlets have slowed their coverage to a near-halt. However, not all is bad according to Burniske.

He added that it isn’t all bad, as there are millions of new “decision makers” that gained knowledge of the crypto industry. Moreover, the diehards, developers, investors, and forward-thinking innovators still invest capital (both human and financial) in cryptocurrencies and related ventures. The Placeholder partner, formerly of ARK Invest’s crypto arm, wrote:

“And the technologists & financial folks that feed off the bleeding edge continue to pay attention, invest, or build, just as happened in 2015.”

With a final remark, he said that now when the market has fallen during the better part of 2018, crypto is not relevant in people’s lives anymore.

Bitcoin and crypto building for the future

While the investors and mainstream people lose interest in bitcoin, development is happening behind the curtains. Jemas Loop is another prominent bitcoin leader. He Tweeted that the percentage of bitcoin transactions spending segregated witness inputs rose from 10 per cent to 40 per cent during 2018. ArminVanBitcoin Tweeted that 2018 was by far the most successful year so far for bitcoin.

Besides from enthusiastic Tweeters, institutions are getting engaged, and many think they will drive the next wave of adoption. A digital exchange will offer its clients to trade with Nasdaq-listed companies in the shape of tokens. ICE’s Bakkt is about to launch and are getting ready.

There are even those who think that bitcoin will become a world reserve currency. The well-known American broadcaster Max Keiser has now started 2019 by predicting Bitcoin will dethrone the US dollar as the world’s reserve currency. The co-founder, Fred Wilson, of investment firm Union Square Ventures revealed his thoughts on the global markets. It includes the cryptocurrency market, and he thinks we will see the button during 2019.

Even though the mainstream might have lost interest, for now, the crypto space is under development and building for the future.

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