The Gentrification of Bitcoin. Bitcoin Tech Talk Issue #201

Back in 2011, Bitcoin was a money for people to buy drugs off the internet and not much else according to the media. In other words, Bitcoin was for those people, not for respectable, law-abiding citizens.

The narrative changed in early 2013. Bitcoin became a place to practice trading, especially for those who craved more action than the stock market could give them. Bitcoin started to be for traders as well.

Later in 2013 came the arrest of Ross Ulbricht, which ultimately killed the drug-money narrative. At that point, Bitcoin became more of an investment, or something to store value long-term. Bitcoin started to be for people that wanted alternative investments, such as libertarians.