Why HODLing Is Hobbling Bitcoin's Prospects as a Common Currency

Why HODLing Is Hobbling Bitcoin’s Prospects as a Common Currency

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. In this opinion piece, one of a weekly series of columns , Casey argues that bitcoin’s appeal as an investment could diminish its effectiveness as a currency and calls for testing alternative cryptocurrency models. Bitcoin traders like to say their best trading strategy is not to buy and hold, but to buy and " HODL " – hold on for dear life. For the umpteenth time, it’s paying off. Bitcoin’s price has rebounded from a sharp drop […]