Bitcoin is growing in price. Just recently, the coin price achieved 11,000 USD. Who can still believe that bitcoin will fail?
The administration of the Bank of England does. The bank`s governor has told already that bitcoin has failed as a currency. Why so?
According to the governor, bitcoin doesn’t meet two main requirements of a currency: it is neither a means of exchange nor the store of value.
Though it doesn’t mean that bitcoin has failed as bitcoin, as something, that can change the financial world. Yes, bitcoin isn’t traditional currency, for a very simple reason: it is a kind of cryptocurrency, with own rules and laws. This is the difference: bitcoin has, probably, failed as a traditional currency, but hasn’t failed as bitcoin.