Regulation and greater public confidence are keys to the broad adoption of bitcoin and other cryptocurrencies, according to a new report from S&P Global Ratings.
The report notes the "wave of excitement about cryptocurrencies in general and bitcoin in particular, which have become more acceptable as investments or as a means of payment." It also notes the limits imposed on broad-based use of digital currencies due to the lack of regulations and the excessive price volatility.
Until there is more regulation and greater public confidence, S&P Global Ratings analysts expect cryptocurrencies will "continue to be speculative instruments, which investors mostly use as a store of value rather than a means for commerce."
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