There are constant debates and discussions about the future of cryptocurrency, specifically the major ones such as bitcoin and what will become of them. These range from concerns about the price of bitcoin either hitting the sky or dropping to near zero and whether or not cryptocurrencies will continue to increase their dominance as time goes on. This goes beyond just crypto as a means of day-to-day payments but also as an investment tool. As more and more institutional attention has been given to crypto, many are considering whether or not it is a viable investment, particularly for the younger generation.
According to a January 30, 2020 interview podcast on Bloomberg, Former NFL player Joe Theismann thinks Bitcoin has drifted to the back burner of the public’s minds and is no longer a priority.
Less of a Priority?
According to Theismann, bitcoin has left the forefront of public consciousness compared to its previous position.
“I’m not saying that there isn’t a possibility for it to rise again at some point, but I think that has run its course to a degree,” he said.
During the podcast, Theismann spoke on a number of topics including stocks and marijuana and stated that he has five asset managers and while he takes their advice, he also wants to beat them in terms of returns. He has previously participated in the crypto market but acknowledges that there are certain challenges that need to be overcome. According to him, until people can be convinced to actively buy a significant amount of their goods and services with cryptocurrency, they will always be the problem of adoption.
Furthermore, Theismann pointed to governments’ attitude towards cryptocurrency as another factor that will hinder adoption. According to him, the government would not want anyone other than the central bank to control the overall supply of money and as such, they will always be against cryptocurrency to an extent since it is a decentralized form of currency.