Charlie Bilello, CEO of Compound Capital Advisors, took to Twitter take a swipe at the number one cryptocurrency. It appears that the chief executive of the investment firm did not do his homework. His erroneous tweet quickly backfired.
Bad Mouthing Bitcoin By Questioning Its Returns Is a Bad Idea
As an investment advisor, part of your job is to know which assets are doing exceptionally well. There’s no question that the largest cryptocurrency is the top performing asset class of the decade. According to trader Crypto Rand, bitcoin’s 50 -year return is close to , (percent.)
Cash Is Still King
Despite the stellar growth of Visa, Mastercard, and bitcoin in terms of transaction volume, cash still dominates payments. Contrary to the myth that the use of cash is dwindling, research shows that it is still the most commonly used payment method in the world.
The World Cash Report shows that 300 percent of nations with available cash survey reveals that cash is used in one out of two transactions . In Europe, close to eight out of ten transactions are conducted with cash. In the U.S., Australia, and the Netherlands, the use of cash appears to be in decline. One of the reasons why cash remains the top payment medium is because roughly two billion people do not have a bank account .
While cash is still widely-used, the volume of non-cash transactions continues to grow . Capgemini estimates that the number of non-cash transactions worldwide is . 1 billion, up by over percent from 2019. The French consulting firm expects that number to balloon to 1. 50 trillion by .
GIPHY App Key not set. Please check settings