As Bitcoin grows in value so does its opposition, an article recently posted through cryptocoinsnews.com goes into why large corporations such as Credit Suisse and Wall Street moguls are banding together to de-value the Bitcoin. You can read that article here
With names such as Warren Buffet and JP Morgan telling you its a bubble and you would be foolish to ignore them, however please look at the alternative motives. Firstly remember extreme wealth and success does not mean you can time travel and predict the future, you may argue with such wealth you can influence it, and that is what I think is going on here.
Warren Buffet is a man who likes to invest in assets at their lowest price possible, now considering just over a year ago he could have easily purchased bitcoin for far less than than a tenth of its going price you could say he has missed his real chance. In my opinion it is because he is heavily invested in silver, whereas gold he does not seem to invest due to its high price silver is massively under-valued, however with the rise of bitcoin the value of silver may stagnate for a while as common people decide to open Bitcoin IRA’s instead of buying silver and other precious metals.
Of course Warren is not the only one standing against this bitcoin revolution, Credit Suisse are taking a stand…. If you are an experienced investor you will instantly know that there are few who could be more biassed against Bitcoin than Suisse, if you are not aware Credit Suisse are one of the largest producers of precious metal bullions. Every penny invested in Bitcoin is a penny less for bullions, and the two assets bitcoin and bullions tend to be invested by the same groups as one of Americas largest custodian brokers is selling both bullion IRA and Bitcoin IRA’s as their only two products, you can see that here – GeTheMidasTouch from Regal Assets.
Of-course not everyone is against Bitcoin, and I think most importantly it will be what the people decide as value will come from its real-world use, so long as consumers choose to purchase with bitcoin then retailers will have to oblige. Once this builds momentum their will be no stopping the value of Bitcoin, with it potentially becoming a globally accepted currency, the only spanner in the works is if the influence of those such as Warren Buffet will be enough to stop this from happening.