Bitcoin's Fatal Flaw

Posted On Jul 23, 2021 By Addison Wiggin

A company called Bitcoin Depot has announced a partnership to provide Bitcoin ATMs to Circle K convenience stores. Kiosks have already been installed in 700 locations, with 6,000 expected to be in place by the end of the year. Jim Rickards has argued that one reason Bitcoin can’t expropriate the dollar’s supremacy is because it lacks utility. You can’t just spend cryptocurrencies… you must go through the hassle of converting them into an acceptable form of payment. So far, Bitcoin ATMs don’t do anything to overcome that hurdle. But George Gilder says Bitcoin has an even bigger problem…

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