Bitcoin Gains Favor With Modern Day ‘Gold Bugs’ Seeking Financial Security

Bitcoin Gains Favor With Modern Day ‘Gold Bugs’ Seeking Financial Security

Kanishka Sukumar, a 24-year-old consultant in midtown Manhattan, binds about a third of his resources in bitcoin. He represents a new era of “gold bugs” who doubt a fortitude of paper banking or find improved ways to strengthen savings, according to The Wall Street Journal.

One in 5 bitcoin users reason a cryptocurrency given they don’t wish a supervision or banks determining their money, according to a consult of 3,500 bitcoin users. That was a second biggest reason a consult respondents reason bitcoin. The categorical reason, according to a consult from information provider CoinDesk, was to possess bitcoin as an investment.

Since bitcoin’s cost sensitivity has eased, it has turn a some-more viable store of wealth.

Hedge Fund Manager Likes Bitcoin

Michael Novogartz, a sidestep account manager who owns bitcoin and left Fortress Investment Group LP final fall, calls bitcoin an “I don’t trust people” purchase. He owns usually one unit of gold, that was a gift, compared to a “significant” volume of bitcoin. He pronounced bitcoin will attract people who differently would

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