This week The Bank Of America warned that Bitcoin is going to be a giant 'bubble' - I dont think Banks are reliable 'barometers' when making Bitcoin predictions as I have seen so much negativity from them since 2017 - Now the Banks and Governments are talking about launching their own Crypto to complete with Bitcoin but surely this wont be decentralised so its not really going to be 'The internet of money' is it?
Well, to some extent Bitcoin is a threat to the banking system! When people dont need an intermediary to transact Money, that certainly decreases the need of having a bank. That's where exactly banks are worried and they are trying to discourage people from using bitcoin and other cryptos! But bitcoin is not facing such bad publicity for the first time. JPM Chase CEO Jemie dimon and Berkshire Hathaway Chairman Warren Buffet have already tried such thing and even the crypto market responded briefly to it! But the market is now matured and immune from such bad publicity! So nothing to worry!