What is the element Bitcoin (BTC) needs to consolidate its role as a valid investment option in the company?
“Time,” replied Aleks Svetski, co-founder of the Amber investment platform, in a series of e-mails exchanged with the editorial staff of Cointelegraph:
“This is not a technological revolution. It is a monetary revolution, which traditionally takes centuries to manifest itself. But since we are in the digital age, Bitcoin will probably succeed in decades.”
Svetski: The more unstable society becomes, the closer people will get to BTC…
After the terrible contraction in March, caused by fear and uncertainty about the effects the coronavirus would have on the economy, more and more people discovered and became interested in Bitcoin Evolution – Bitcoin Trader – Bitcoin Billionaire – The News Spy – Bitcoin Profit – Bitcoin Revolution – Immediate Edge – Bitcoin Code – Bitcoin Era – Bitcoin Circuit. The value of the currency has therefore recovered, and is now 130% positive compared to the minimum two months ago.
This renewed confidence in Bitcoin stems in part from the unstable conditions in traditional markets, which have recently performed worse since the crash of 1987. The value of equities has since recovered, but experts continue to fear for the economy given the very high unemployment rate.
Bitcoin is a global asset and independent of government control. According to Svetski, these qualities make it particularly attractive during periods of severe crisis:
“The more holes appear in the building we call society – be it monetary, fiscal, political or social – the more people will want to preserve their assets through something that is immune to state tampering.”
Bitcoin increasingly popular with the general public
In recent weeks, several important names in traditional finance have expressed their interest in the cryptocurrency industry. Among them is the billionaire Paul Tudor Jones, founder of the Tudor Investment Corporation, who has revealed that he bought Bitcoin.
JPMorgan Chase, the largest bank in the United States, has also changed its mind about cryptocurrency: it will offer its services to the Coinbase and Gemini trading platforms. A total change of course since in 2017 Jamie Dimon, CEO of the banking giant, called BTC a scam.
According to Svetski, there are three reasons that will bring the general public closer to cryptocurrencies:
“I have a saying: People will approach Bitcoin out of curiosity or pain. I would add ‘out of greed’, but that’s part of the curiosity.”