Quote from: Sayeds56 on Today at 04:08:37 AM

Quote from: noormcs5 on December 08, 2022, 04:46:16 PM

I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin. Sad

Obviously, banks will never like Bitcoin to become popular which is quite natural & understandable, as it is a decentralized and not in their control. additionally, if it is massively adopted as method of payment, it can potentially reduce or may eliminate their role in the financial system.
There is another reason, why banks are hesitant to involve in Bitcoin, is lack of regulations in many countries for investing & trading in crypto, which restricts their ability to deal in crypto currencies.

Bitcoin is designed to break the monopoly of centralized financial institutes like Banks. So its very obvious that Banks wont like it. For centuries these Banks are controlling the global financial system via there centralized policies. Banks limit our access to our own money, while there is no check on how bank is using our money. Bitcoin gives us the liberty to use our money on our terms and conditions and I dont think centralized institutes will ever accept Bitcoin.