This change may cause some problems as it deviates from the original spirit of cryptocurrencies as an alternative to mainstream finance. However, this is what is causing the excitement again. And it’s not just Wall Street that’s driving this. As BlackRock’s Larry Fink suggested in his “flight to quality” commentary, macro factors such as the potential end to the U.S. rate hike cycle, Middle East tensions and the specter of long-term inflation are pushing investors toward safer harbors, including cryptocurrencies. Isn’t it funny that Fink, who was previously skeptical about cryptocurrencies, is now singing the praises of Bitcoin on national TV?
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