ChangeNOW CMO Writes an Op-Ed on Bitcoin for a Major Crypto News Outlet
On Wednesday, our trusted media partner Cryptonews.com published an op-ed written by our CMO Serge Dryamov. It was dedicated to the recent Bitcoin fluctuations and bullish moves. Serge commented on the current Bitcoin market position – and on how institutional, social, and economic forces got Bitcoin where it is now.
We couldn’t have found a better place to publish this article, since Cryptonews.com is a major crypto news media outlet and a credible platform read daily by crypto enthusiasts worldwide.
Please note that Serge’s article was published before Bitcoin's recent bearish move.
In his op-ed Serge starts with observing Bitcoin’s recent moves and corrections, then coming over to the background behind recent events.
What was really obvious is that Elon Musk proved to be an active “supporter of bitcoin” as he admitted during one of the online conversations in Clubhouse. His further pro-dogecoin and pro-bitcoin tweets had been a regular news presence during two weeks before his activity culminated in Tesla’s notable purchase. The electric car giant led by Musk, revealed its 1,5 billion USD purchase of bitcoin in early February. Moreover, the company claimed it would start accepting btc as a payment method, so this investment should have given Tesla much needed liquidity in the cryptocurrency. The joint filing with the Security and Exchange Commission (SEC) also declared that buying bitcoin stands for “more flexibility” to diversify and maximize further returns on the company’s cash.
After mentioning Tesla and recounting MicroStrategy growing their stash in Bitcoin, Serge passes to other big institutional investors like Paul Tudor Jones, Carl Icahn and Jaffrey Gundlach, who have turned to advocating Bitcoin amidst the Fed’s ongoing banknote pump and logically leading to the Bitcoin’s ATH on April 14.
Then he continues with a comment on the regulatory context and May BTC collapse.
As most cryptocurrency exchanges and other relevant projects are based in China, investors got afraid of other stricter measures and preferred to save their profits by selling crypto assets. Moreover, regulators from all around the world picked up on Chinese experience that weighted on the btc price. Amidst the news about Binance being banned from undertaking any legal activity in the U.K. and the New Jersey Attorney General ceasing activity of the local crypto services firm BlockFi, Bitcoin finally plummeted below 30,000 USD on July 19. Among other reasons, the bitcoin price declined owing to a big sell-off in global stock markets that also caused the increased btc sales on cryptocurrency exchanges.
Serge ends the article with his opinion on new drivers of Bitcoin growth and future prospects. He concludes that there are two key deductions that can be made from the recent BTC price changes:
- No one would doubt that today bitcoin has significant weight and has proved to be a worthy opponent to worldwide regulators. Governments contend with digital assets as they have become indisputable reality.
- Amidst the huge institutional adoption, all the restrictive measures, for example, the already lifted cryptocurrency ban in India, had yet to be substantiated.
For the full version of the article, go here. We thank Cryptonews.com one more time for such a fruitful collaboration.