What does the future hold for this top dog in the cryptocurrency market? On this episode of “The 5,” Motley Fool contributors Travis Hoium, Jason Hall, and Taylor Carmichael discuss the future of Bitcoin.
What I’m interested in in the cryptocurrency space though is what is the utility of cryptocurrency? That’s why one of the things that I’m looking at right now is what can we do with things like smart contracts with the Ethereum or some of the other cryptocurrencies that are out there? I think Bitcoin has really solidified itself as the brand name and the gold, if you will, of the cryptocurrency space, but I think the innovation is going to happen in some of these other cryptocurrencies.
I think Bitcoin is going to be a very good investment for a long time, but it’s what you are saying, Travis, there might be issues with it long term.
El Salvador being able to use it as a currency exists because of Lightning Network, the ability to increase the number of transactions, drive transaction costs down, make it a little greener, and then you’ve got Stacks, this adjacent network rights for developers to build.