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IMF reports rise of non-traditional reserve currencies…Bitcoin?

  1. Bitcoin has all of the properties of sound money (scarcity, acceptability, divisibility, durability, portability and fungibility)
  2. Bitcoin market cap (nearly $1 trillion) is close to the M1 money supply of AUS and CAD (nearly $2 trillion each) — it will be there in a few years
  3. Payment networks and monetary management technologies are being built and innovated by the Crypto / Blockchain industries. Some would say leading the way for central banks to follow
  4. Bitcoin is censorship resistant in that no single entity has the ability to reverse a Bitcoin transaction or block access to the network for a particular wallet
  5. Bitcoin adoption is growing exponentially as more and more countries make it legal tender or consider it viable for retail and international trade

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Riz Pabani

I write about mentoring, productivity, finance, crypto, Python and Data Science. Please follow if you like