Known to the world as a popular American ex-football player, sports commentator, corporate speaker and successful businessman, Joe Theismann has shocked the crypto community with his sharp remarks on leading cryptocurrency, Bitcoin and its current daunting position in the market.
On January 30, 2020, Joe appeared as a guest on a podcast interview with Bloomberg and shared his views on the success and failures of Bitcoin.
It’s sort of been pushed way on the back shelf. I’m not saying that there isn’t a possibility for it to rise again at some point, but I think that has run its course to a degree,
stated Joe during the interaction when asked about Bitcoin’s position.
The renowned business and sports personality indulged in an intriguing round of questions and answers during the podcast. He talked about stocks, marijuana, and an array of other crucial topics. While speculating about the success and evolution of Bitcoin, Joe stated that for mass adoption of virtual currencies, it is necessary to lure investors, pull them, and encourage them to make use of cryptocurrencies as a payment mechanism.
Until you can convince people to buy things with cryptocurrency, it’s going to be a challenge,
While speaking about the impact of growing control of government bodies on the crypto industry, Theismann stated that the governments would not actively get involved in the industry. Though, central banks will be vested full control in regulating the digital currency sector.
Since the start of the year, Bitcoin has gained more than 30% of its value and has settled above SMA200 daily. According to the experts, the current Bitcoin industry is showing a strong bullish trend, which ensures that the coin is likely to enjoy a surge in the future. Bitcoin reached a new high of 2020 when it touched $9,523 mark during early Asian hours. It has been following a bearish trend since then.