The Bitcoin network is still in its infancy, making it possible, if not likely, that Bitcoin will continue to evolve in the coming years. But regardless of how Bitcoin develops, no new coins will be released after the limit of 21 million coins is reached. The cryptocurrency market has experienced numerous severe bear market crashes. To put this into perspective, the US stock market has only had five bear markets in which stocks dropped by more than 30%.
Bitcoin is only 12 years old and the cryptocurrency market has had so many serious declines. The future of cryptocurrency remains highly uncertain. Supporters see unlimited potential, while detractors see nothing but risk. Professor Grundfest is skeptical, but he does acknowledge that there are certain applications where cryptocurrency is a viable solution.
In recent days, several cryptocurrencies have seen their prices plunge to near-record lows. As a former Commissioner of the Securities and Exchange Commission and an expert on financial systems, Professor Grundfest is uniquely qualified to comment on the future of cryptocurrencies. Instead of learning how to use a cryptocurrency exchange to trade your digital assets, you can add cryptocurrencies to your portfolio directly from the same brokerage that you already have a retirement account or other traditional investment account with.