Is Bitcoin’s future in circular economies or national reserves?
Some Bitcoin advocates say that the cryptocurrency has gotten away from its roots as a payment instrument and has become more akin to digital gold.
Bitcoin is seeing unprecedented adoption with the US establishing a “strategic Bitcoin reserve,” but some prominent Bitcoin advocates believe the project is getting away from its roots.
Earlier this year, Jack Dorsey, a Bitcoin proponent and founder of Twitter, said that he believed if Bitcoin becomes just a form of “digital gold” then the project has failed. He said that a national Bitcoin reserve may be “good for the nation-state, but I don’t necessarily know if it’s good for Bitcoin.”
Dorsey contended that Bitcoin needs to return to the white paper and work on becoming a form of peer-to-peer cash that can be transacted globally if it wants to become a success.
