Bitcoin has gained stability and credibility following increased use in the aftermath of the UK Brexit vote, with record trading levels set.
Long-Term Investor Safety
Contrary to the UK pound sterling, which dropped 10 percent after the results to a 31-year low against the dollar, and the euro’s 3% slide, Bitcoin reached a high of $683 per unit.
In terms of volatility, this week has seen Bitcoin become a safer bet than GBP, leading to increasingly complimentary mainstream press attention.
“Bitcoin, right now, is more stable from a volatility perspective than both the euro and the pound, which is a great thing for bitcoin and maybe an indictment of the euro and the pound,” Blockchain CEO Peter Smith told CNBC.
Smith sought to highlight Bitcoin’s overall track record, fueling new popular sentiment that Bitcoin investment long-term was not so much of a ‘wild card.’ He added:
Text Source and complete Article ===> https://news.bitcoin.com/bitcoin-stable-euro-pound-brexit/If you had allocated assets into bitcoin five of the last six years, you would’ve done better than your local currency.