Bitcoin May End Existence, Warns About Education

Prasad said the inefficiency of Bitcoin and its inability to facilitate exchanges as a payment method would be the reason for its collapse.

The future of Bitcoin is difficult to predict, but Eswar Prasad, a professor of international trade policy at Cornell University, has warned that the world’s most popular cryptocurrency may soon be out of stock.

In a recent interview with CNBC, Prasad said the lack of Bitcoin efficiency and the inability to facilitate exchanges as a payment method would be the reason for its collapse.

Blockchain is the basic technology behind cryptocurrencies. Bitcoin and thousands of cryptocurrencies actually actually blockchain codes take as long as most people use them. Prasad believes that the use of Bitcoin blockchain technology has not been very successful

Despite the recent decline in the price of cryptocurrency, many millennial millionaires have invested in cryptocurrencies and plan to add more to their portfolio by 2022, according to a recent CNBC study.

The study revealed that at least 83 percent of the billion American billionaires own cryptocurrencies, and more than 53 percent have a share of their wealth in crypto and about a third have a quarter of their wealth in Bitcoin, Ether and other cryptocurrencies.

It should be noted that a millionaire is a person with a total value or wealth equal to or exceeding one million units of money. While the millennium, according to each definition, is a person born between 1981 and 1996.

Millenials as investors are almost crypto-advanced than others, according to research. “The income of a billionaire is very different from the generation of millionaires. Only 4 percent of baby boomers (people born between 1946 and 1964) hold any secret money, while more than three-quarters of Gen X investors (people born between 1965-1980) do not own crypto. ”

About 48 percent of the 1,000-year-old group surveyed confirmed that they plan to increase their cryptocurrency investment by 2022, while 39 percent said they would keep it at their current levels. In fact, only 6 percent reported plans to reduce their crypto investments next year.

Meanwhile, in November, a survey conducted by data analysis firm Engine Insights showed that at least 59 percent of two-thirds of Gen Z respondents (born between 1997 and 2012) believed they could succeed in investing in digital currency.