So, farewell then Bitcoin Black Friday

The creator of Bitcoin Black Friday, a shopping event for Bitcoin accepting merchants, has announced that it will no longer take place.

In an online statement, Jon Holmquist said that he had “fallen out of love with using BTC as a means of consumer payment”. 

The fundamental use case of Bitcoin is a form of investment and as a new financial instrument, he added. “The ability to transact with it is at most a needed function, at worst a tack on benefit. With both my career and my personal views I've drifted away from using Bitcoin as a new payment rail,” Holmquist commented.

“Bitcoin Black Friday was started as an event to demystify the use of cryptocurrencies, and quite frankly, that task is done. With awareness of cryptocurrencies widespread and almost common knowledge, the initial press issues Bitcoin had are long in the past. I think the initial mission this site had is very much accomplished.”

The 2019 event would have seen BTC/USD trading at what many consider a significant discount. Over the past week, Bitcoin has shed 20%, recovering to circle just above $7,100, Cointelegraph reports. 

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