Currently Grayscale's bitcoin trust owns 654k and the top companies hold 200k, that's 854k bitcoins out of circulation from 21million, not to mention an estimated million more lost. We see alot of bitcoin integrations from paypal, mastercard but is there a public for that? With hour long payment confirmations, I just don't see it as a payment form in everyday life. Has bitcoin turned into an investment wagon or is there still a possibility of it becoming an everyday payment currency?
It's really used in both ways and at the same time, they work synergistically. When the demand on bitcoin for investment purposes rises, the number of transactions increases too.
But right now, I think that there is more demand on bitcoin as an investment form. And the quality of investors is very low, I mean, a lot of people enter the bitcoin market blindly and have no idea what it exactly is or what's the purpose of this coin, they just blindly follow other people.
Bitcoin lost it's purpose but it has nothing to do with the demand on bitcoin as an investment vs bitcoin as a payment form. The real reason is that Bitcoin got very regulated, people don't use it to get rid of 3rd parties, instead, we demand on them when we use crypto visa cards, exchanges, commercial payment gateways, etc.