Precious Metal Investment Firm Goldmoney Leaves Crypto Business Altogether, Drops Bitcoin Services

Recent bitcoin news shows Goldmoney has officially disregarded the likes of cryptocurrencies and its BTC services. The precious metals investment company has given bitcoin users two months to move funds to avoid any problems.

This has become nerve-wrecking for many crypto fanatics, given that Goldmoney is one of the world’s widely known precious metals’-based investment firm. Most importantly, this leaves many questioning whether Bitcoin can actually serve as an alternative to money, let alone gold – something that has been popularly suggested by many experts.

According to the firm, the reason for having included crypto to begin with was to give consumers more options. This led them in witnessing “overwhelming success”. So, what changed their mind? As per Goldmoney’s Board of Directors, many factors were assessed in arriving to the final decision.

Some of the said factors include possible decelerating interest in cryptocurrencies, not to mention the prolonged bear market that we have witnessed for nearly a year now.

Goldmoney believes that the exiting of one market, will help strengthen themselves within their respective market. In particular, it was shared that they can now, “focus on new growth initiatives within the precious metal industry.”

Does all of this imply that Bitcoin can never become a “digital gold”? Not necessarily, as it depends on how volatile Bitcoin becomes, that is, if it ever gets to become a stable asset, then the doors to opportunity can potentially open! At this moment, it is hard to tell considering that BTC has lost nearly 80-85% of its value since December 2017.

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Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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