A Proposed New Framework For The Bitcoin Price

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This is an opinion editorial by Vishvas Garg, a Ph.D. in pharmacoeconomics, epidemiology, pharmaceutical policy and outcomes research from the University of New Mexico.

Compared to the total world population of over 7.7 billion people, bitcoin is owned in less than 150 million wallets today. While this does not mean one wallet translates to one person, it is safe to assume that the vast majority of the world population still doesn’t own any bitcoin at this time.

Block and Wakefield Research conducted a survey of 14 countries and reported that education is the key to bitcoin adoption. People with higher levels of knowledge about Bitcoin were found to be more optimistic about its future. Furthermore, lack of knowledge was found to be the top reason for people not buying the asset.

Bitcoin is a revolutionary force, but to significantly grow its rate of adoption, the knowledge and perception of Bitcoin needs to improve. This can be done by establishing an evidence-based value proposition of bitcoin. Having an evidence-based value proposition for bitcoin available can also enable major investments from various institutions: private, public or government.

To help understand the importance of such a value proposition of bitcoin, let’s use the example of a white paper published by Ark Invest and Block (then Square). This paper has shown that bitcoin is key to an abundant, clean energy future, as it could enable deployment of substantially more solar and wind energy capacity. What if we can leverage the findings of this research to understand the acceleration of the transition to renewable energy and assess what quantifiable value bitcoin can deliver for society, consumers, merchants, policymakers and financial institutions?



Source link Bitcoin Magazine

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