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Bitcoin Is "Red Pill" for 3.5 Billion People: Wellington-Altus Private Wealth Research

Tue, 06/01/2021 - 15:24
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Alex Dovbnya
The digitalization of money is a "natural process," research says
Bitcoin Is "Red Pill" for 3.5 Billion People: Wellington-Altus Private Wealth Research
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In its June research note, James Thorne, chief marketing strategist at Canadian wealth advisory company Wellington-Altus Private Wealth, compares Bitcoin's ability to disrupt the status quo to the red pill from "The Matrix" franchise.

While the first cryptocurrency appeared only 12 years ago, Thorne claims it is the culmination of a decade-long evolutionary process:

This is a time in which investors have access to the red pill of an evolutionary process that has been decades in the making.

3.5 billion people

Thorne claims that the total addressable market of cryptocurrencies is "significant" given that 3.5 billion people own smartphones:

Just as the internet disrupted the brick-and-mortar retail industry, so, too, will blockchain and cryptocurrencies disrupt the finance industry.

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Wellington-Altus claims that the adoption curve of digital assets could follow smartphones, which can no longer be ignored by legacy finance.

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Common critiques

The paper also addresses some common arguments made against Bitcoin.

When it comes to its carbon footprint, Thorne predicts that the efficiencies of the mining industry will continue to increase.

In addition, he claims that the number of illicit activities related to Bitcoin transactions has dramatically decreased since 2012.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at