- Bitcoin adoption is likely to increase with the second wave of COVID-19.
- Pierre Rochard believes that adoption is slow due to a lack of mainstream media coverage.
- Bitcoin is likely to get into the mainstream limelight if it gets past $20000.
Cryptocurrency celebrity Pierre Rochard explains that with the second wave of COVID-19 pandemic ready to hit the world, Bitcoin adoption is also very likely to increase by many folds. Speaking in a podcast for leading cryptocurrency exchange Kraken Rochard explains that the COVID-19 spike unemployement.
The unemployment rate leads to trillions of dollars of printing and that was seen around the globe such as in Europe and other countries. With the expected second wave of the pandemic, governments are likely to print more currency. The fiat currency can be printed in infinite amounts bringing up the question of whether or not people should be using fiat or fiat-backed assets.
Bitcoin is doubling down in value making it a speculative asset but in the longer run Bitcoin would leave Gold, real estate, and other assets behind in the race. And even if the COVID-19 crisis was not a reality Bitcoin is still a strong contender since it is driven by the real demand.
Bitcoin adoption in mainstream media
Pierre believes that there are testimonial from big-guns on Twitter but there is no major mass media coverage. The cryptocurrency is traditionally driven by retailers but this time around it is a completely different case where new investments are coming from macro environment. Though the price is oscillating between too bullish and too bearish its fundamental value is still increasing.
The mainstream media is going to look at current Bitcoin highs as the market bubble moves but once the price is stable above the all-time high it is likely to get some limelight. There is plenty of other stuff such as the US presidential elections, COVID-19, and Bitcoin limelight would increase if it stays stable above $20000.
Pierre is not the only one who believes in rapid Bitcoin adoption, the famed Winkless Twins are also avid promoters of Bitcoin adoption and Cameron just called out all the millionaires across the globe to own at least 1 Bitcoin.
Cameron backs his challenge with the fact that there are only 21 million Bitcoin and 46.8 million millionaires across the globe.