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Has Bitcoin become a mainstream medium of exchange?

Michael is joined by Stephen Bartholomeusz, Sydney Morning Herald Senior business columnist, who poses the question is the pandemic transforming Bitcoin into a conventional investment option and potentially a mainstream medium of exchange?

 

Mr Bartholomeusz writes, ‘The jury is still out on both those questions, but it is apparent that the cryptocurrency is gaining wider acceptance on both fronts, moving from a speculative plaything for millennials to a financial asset of interest to conventional investors.’

 

‘The impact of the pandemic on all things digital, but particularly payments, during the widespread lockdowns and the boom in online commerce and communications has generated increased interest in digital currencies.’

 

‘At the same time, the explosion in debt has caused investors to consider whether Bitcoins represent a safe haven for stored value.’

 

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