Bitcoin has “many similarities” with gold, and consumers’ fears of cryptocurrency theft are fading, according to a new report from a unit of bond-rating and investment-index firm Standard & Poor’s.
“The theft of bitcoin was a concern a few years ago,” Jim Wiederhold said for the S&P Don Jones Index on commodities and real estate. “As Bitcoin has become more mainstream, these concerns are diminishing, although the risk of prolonged technology and exchange partners remains.”
After cryptocurrency prices quadrupled in 2020, S&P has joined a growing list of Wall Street firms to weigh in on Bitcoin, generating new interest among investors from large corporations. Black rock, The world’s largest finance director.