Please explain to me how bit coin has no sovereign exposure? What does this person think the bit coins were bought with? So your paying bit coin a fee to hold your sovereign dollars. What happens when bit coins balance sheet blows up? Will they have enough capital to support the network?
CNBC.com Article: Bitcoin: Cyprus Sparks Scramble for Digital Dollars
They won’t make a sound no matter how many of them you try to toss in a bucket, and you can’t pitch them in a fountain and wish for good luck. But make no mistake, bitcoins are getting big.