Is Bitcoin the Future of Banking?
Many believe that the recent turmoil in the banking industry is the reason for Bitcoin's (CRYPTO: BTC) recent jump and why it moved past $28,000 for the first time in nine months. While it might come as a surprise, serving as an alternative to banks is one of the primary reasons Bitcoin was invented. Back in 2009, its pseudonymous creator Satoshi Nakamoto unveiled Bitcoin to the world as a response to the massive bailout banks received after the fallout of the Great Recession.
To Nakamoto, it likely comes as no surprise that Bitcoin benefits from the banking chaos in early 2023. Its sole purpose was to provide people with another option to store and send money that didn't rely on the highly opaque and, at times, shady operations of banks.
To fully understand why Bitcoin is benefiting and how it could become a more viable option in the future, we need to examine the characteristics that make it unique.
Source Fool.com
