The financial sector has faced growing regulatory challenges in recent years. Triggered by the financial and economic crisis, the need for stronger regulation became clear. Bitcoin has been the counter design to the existing payment system since 2009, driven by the same reasons but with the aim of excluding, rather than supporting, the traditional players of this sector. The idea of breaking away from the existing financial service providers and creating a payment system without central intermediaries is based on a mistrust caused by the financial crisis. Bitcoin bulls fail to hold $21K, but pro traders refuse to flip bearish Since Bitcoin isn't controlled by a central entity, its monetary policy is much more sound than any government. Ark Invest CEO Cathie Wood describes Bitcoin as a "rules based monetary system", as Bitcoin's monetary policy is set by the parameters of the code. With governments printing out more money than ever before in light of the pandemic, investors are looking for alternative investments to hedge against inflation. Many are turning to Bitcoin to do so, facilitating adoption of cryptocurrency over the long-term.
Stock and cryptocurrency trading app Robinhood announced at the Bitcoin 2022 conference today that it’s making plans to add the Bitcoin Lightning Network to its platform for speedier BTC transactions. It also shared that eligible users from its beta crypto waitlist can now send and receive crypto through its crypto wallet feature. Past Performance of the Crypto Market Suggests 2023 Will Be a Good Year In an interview with Insider, Philipp Sandner, the head of the Frankfurt School Blockchain Center at the Frankfurt School of Finance & Management, said bitcoin and other crypto tokens had been "dragged along" with the crash of UST and Luna.