How cable TV is now a major driver of Bitcoin price increase
Posted On July 6, 2021
Bitcoin has now gained over 10,000% in value since the beginning of the year, according to a report released by The Economist.
According to the report, cable TV has become the largest driver of the cryptocurrency price increase.
According the report:”Cable TV is the only way to access the world of Bitcoin.
The network’s reach is much wider than cable TV’s, and in some markets, it reaches as far away as the country itself.
It is an important part of the ecosystem, because it allows consumers to buy Bitcoin from the outside world.”
The Economist added:”The cable network is an indispensable part of a global digital ecosystem.
It enables consumers to invest and buy Bitcoin, and also allows Bitcoin to move from being a speculative asset into a mainstream currency.
This is why the network has become a significant driver of cryptocurrencies.”
According to The Economist, cable and satellite TV is currently the largest source of Bitcoin value, accounting for almost half of the total market cap.