The author of the 2018 academic book The Bitcoin Standard, Saifedean Ammous, said that Bitcoin already functions as a medium of exchange and that the impact of volatility on this is likely to diminish. Ammous points out that the BTC monetary network operates extremely efficiently as a high-volume global settlement network, competing directly with traditional banking systems such as SWIFT or central bank reserves.
According to Ammous, as BTCโs market capitalization increases and its user base and institutional capital expand, daily transaction volume will absorb large buying or selling shocks with less percentage variation in price. As a result, volatility will intuitively decline over time as the network reaches a phase of monetary maturity and stability. $BTC
According to Ammous, as BTCโs market capitalization increases and its user base and institutional capital expand, daily transaction volume will absorb large buying or selling shocks with less percentage variation in price. As a result, volatility will intuitively decline over time as the network reaches a phase of monetary maturity and stability. $BTC