Representatives of Old Mutual Gold & Silver Fund reported that the company had spent 11 million dollars to buy bitcoin. Experts consider that it’s another victory of decentralized digital money. The Fund possesses monetary resources of 220 million dollars in gold equivalent and now the organization is planning to replace 5% of the whole fund money with cryptocurrency.
Mr Naylor-Leyland doesn’t see any threat from digital money. On the contrary, he supports the idea of using bitcoin by investors. The value of this type of cryptocurrency has been rapidly increasing: from 1000$ to the present 8000$.
Blockchain technology and digital money are the way to solve problems of the trust among business partners and the process of transferring money. The perspective of the interrelationship between stable currency and blockchain is very tempting. It’s not clear yet, if the cryptocurrency will be able to replace sound money but the growing influence of blockchain cannot be minimized.