By Obi Nwosu, the CEO and co-founder of the cryptocurrency exchange, Coinfloor,
It has been a challenging financial environment for investors since the financial crisis, and difficult to achieve returns on deposits and short term investments. In response to this, many have been seeking alternative investment vehicles to diversify their portfolios. Bitcoin is never far from the media headlines – but what will it take to convert this volatile retail bet into a viable investment option?
The key lies in stablising its price. Cryptocurrency is, of course, decentralised, which means there is no central authority putting measures in place to govern its price or manage volatility. This instability is currently preventing cryptocurrency from acting as a store of value, and subsequently achieving its originally intended purpose as the future of money.