From under 4,000 on more than 10,000 dollar per Bitcoin: The course of the Urmutter of all Kryptowhrungen rose strongly in this year. Who was thereby, can be pleased. But these were only a few. Bitcoin & Co. still have a niche existence within the investment universes. This has its reasons, because the phase of euphoria was followed again and again by a phase of disillusionment. Or of boredom, like right now.
And the Bitcoin is a system that has already proven to be stable, manageable and capable of providing technological security for the blockchain economy. And only that is actually the task: to be accounting unit, or currency, for digital applications. Not, as is often assumed, to gradually displace the dollar, euro or yuan as a substitute currency. Assuming this, there are two consequences: On the one hand, all other crypto currencies except Bitcoin and two or three other heavyweights will have to fight hard for a right to exist.
On the other hand, the demand for Bitcoin & Co. will increase strongly. Especially during this period of relative calm on the crypto markets, more and more services based on blockchain technology were announced. This applies not only to financial institutions but also to other sectors in industry and services. They use the underlying technology to make their services simpler, faster and, above all, more cost-effective. And the cheaper has always been the enemy of the traditional while maintaining the same quality.
As great as the reservations about the new technology may be, so few institutions are familiar with it: The learning curve is currently steep and will bring a breath of fresh air across the entire economy. And the following applies: crypto currencies are the means of exchange of the blockchain economy. They will be needed to price and bill the new services. And one will cover oneself with it. Or is already there. Then soon a higher demand will meet a lower supply. And that means: price increase.
However, the current sideways movement is accompanied by good sales. The lively trade in cryptos is a good sign that the importance of the new asset class is increasing. More and more big names are entering the crypto business. Whether it’s Facebook with its currency Libra or the much more invisible big houses on Wall Street that build crypto-currency-based settlement systems for themselves and their customers: The idea of blockchain-based settlement units is gaining ground.