In December, major gold dealer APMEX announced they would start accepting bitcoin. This move was a monumental one that helped disrupt the precious metals industry entirely. Now, other big-name players in the game are starting to change course as well. Is this just a last minute attempt to save a dying industry or will both industry’s work hand in hand to establish full crypto integration?
AMPEX INSPIRES BITCOIN HATER TO CHANGE MIND
It wasn’t long ago when Gold Bug CEO Peter Schiff stated that Bitcoin was a fad. He even went as far as to compare the crypto to Beanie Babies. However, now, Schiff is eating his own words as Gold Bug accepts Bitcoin cash as a new payment medium. But don’t get too excited just yet, Schiff is not entirely convinced. According to him, the company converts BCH into fiat as soon as possible. Furthermore, Schiff states that gold is still the best solution for the safe-haven asset. Still, the fact that these naysayers are going the way of crypto proves beneficial for the technology.
WHAT DOES AMPEX ADOPTION MEAN FOR BITCOIN HATERS?
We’ve all heard the arguments. We’ve heard that bitcoin has “no clear fundamental value and largely unregulated markets.” On top of that, we’ve heard the bitcoin bubble is set to burst. Yet, here we are six years after it’s inception and the crypto buzz is still alive and well. Sure, it has some turbulent ups and downs but that’s not enough to scare away companies like AMPEX. Since one of the largest online retailers of gold started accepting Bitcoin others started to follow in its path. Are they just jumping on a trend that will fizzle out or does this really mean a bright future for the crypto industry?
AMPEX SAYS BITCOIN IS THE REAL DEAL
The good thing about the crypto market is anything is possible. AMPEX jumping on board doesn’t mean Bitcoin is the new gold standard. However, it does mean things are going to get far more interesting. The true value of crypto lies within the promising startups and innovative creator. For Kelvin, we believe the incarnation of our exchange is coming at a perfect time. A time when legitimate opportunities are more frequent and mainstream adoption is possible. As full crypto integration becomes the new normal, Kelvin, AMPEX and anyone else on board, can expect good rewards.