Farewell to Bitcoin Black Friday

The world of Bitcoin is buzzing as Jon Holmquist, the mastermind behind the Bitcoin Black Friday event, has declared that it’s time to hang up the virtual shopping shoes. After seven years filled with innovations and adventures, he’s decided that the event has completed its ‘initial mission’. Talk about a bittersweet ending!

A Change of Heart

In a candid announcement on the Bitcoin Black Friday website, Holmquist confessed that he has ‘fallen out of love’ with the concept of using Bitcoin (BTC) for consumer transactions. Instead, he sees Bitcoin primarily as an investment vehicle—a shiny trophy on the mantle instead of a shopping cart staple.

What’s Next for Bitcoin?

Holmquist has a point: Bitcoin’s reputation as a ‘financial instrument’ has taken center stage, while easy-to-spend altcoins like Bitcoin Cash (BCH) are left to handle the checkout lines. He stated:

“The fundamental use case of Bitcoin is, and remains, a form of investment.”

With the crypto market churning like butter, many traders are viewing Bitcoin as the classic gold nugget rather than spending cash. Who needs to buy groceries when you could hoard digital wealth, right?

Mission Accomplished?

Holmquist feels that the mission of Bitcoin Black Friday has been fulfilled. Let’s face it; when your event gets six rounds of applause over the years, it’s hard not to feel accomplished. As BTC prices hovered a little over $7,100 recently after a 20% drop, Holmquist’s exit gives a wink to the price volatility that Bitcoin enthusiasts have come to know and love…or loathe.

Discounts Still Available!

But don’t shed too many tears for the Bitcoin fanbase—other businesses in the crypto world are still jumping on the Black Friday bandwagon. Exchanges like Binance are offering trading fee discounts, and if you need a cool new hardware wallet, Ledger has you covered with a snazzy 30% off. Shopping for the holidays just got a lot cooler, even without the Black Friday hoopla!