Taking Bitcoin off Market, ‘Hodling’ Best For Rise In Bitcoin Price?
As earlier reported, corporate institutions have started hoarding Bitcoin to pay ransoms in the event of cyber criminal attacks which could lead to ‘hodling’ – or holding onto – the top digital currency, it is not clear if this trend is having a strengthening effect on the value and price of Bitcoin.
For quite some time, buying and stocking Bitcoin for use as a store of value has been the best option to increase its market value or to encourage the frequent use of the currency, freely and on a regular basis, has been a subject of debate with varying perspectives to it.
The best way to increase the price of Bitcoin is to buy and hold it, says a comment I came across on a discussion forum.
One of the forum members says ‘hodling’ is by far the best way to improve Bitcoin’s value though spending is great too when you can basically strongarm a merchant to start accepting the currency.
This post was published at Coin Telegraph on 2016-10-25.