Ciphrex CEO explains why bitcoin is not the ‘future of finance’

• The argument that crypto is better than Fiat currency is an age-old argument by this point. 
• There are many big celebrities all over the world who own somewhat of a percentage in Bitcoin and other crypto-assets.

The argument that crypto is better than Fiat currency is an age-old argument by this point. There are many big celebrities all over the world who own somewhat of a percentage in Bitcoin and other crypto-assets. Despite there being a lot of controversy and regulations surrounding bitcoin, many people have turned to the asset as a store of value. Eric Lombrozo, the founder of the leading crypto enterprise software company Ciphrex, is yet to take a stance against this. 

Lombrozo is of the opinion that the leading cryptocurrency will never grow into a globally accepted store of value. 

He took to Twitter to explain his views saying that the global adoption for bitcoin is possible because it is modelled as a more rewarding substitute against the current financial system. 

You can see his tweet below which he published at the end of last week:

Unpopular opinion:

Bitcoin is not the future of finance. It is a way to opt out of the present of finance to buy us some time until we figure out what to put in its place.

— Eric Lombrozo (@eric_lombrozo) June 27, 2020

The businessman believes the same for many other existing blockchains as he further went on to explain that the nascent technology is an escape from the normal day-to-day life but many few fail to meet up to the standard.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!