Coinbase Founder: Bitcoin is a Journey to a Safe Assets 5-10 Years From Now
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Answer Coinbase Founder: Bitcoin is a Journey to a Safe Assets 5-10 Years From Now
Besides the positive enthusiasm that has been recorded so far and that has started since last week.
However, the cryptocurrency ecosystem has lost some of its luster on an annual basis.
Prices collapsed by more than 50% and the decline touched many cryptocurrencies.
Speaking on an episode of Podcast “Queen Piece”The CEO noted that Bitcoin’s market capitalization is currently not helping it play the role it should play as digital gold.
With inflation rising around the world, digital currencies like Bitcoin are expected to become very attractive to investors looking to preserve the value of their capital.
While Bitcoin played this role very well in the previous fiscal year, it is doing somewhat disappointingly this time around.Read:The first Bitcoin ETF is officially approved in North America
Brian Armstrong believes that this could change dramatically if the global financial system now takes a greater account of the emerging asset class, adding:
I think we’ll likely see that change over time.
I can see in the next five or 10 years the cryptocurrency economy booming as it is already growing at a greater percentage of global GDP, people will actually flee to bitcoin as a form of the new gold.
It is possible, but it hasn’t happened yet.
Depending on the current perspective held by different investors, bitcoin is better than gold.
Among those with a bright eye on Bitcoin is Michael Saylor, whose company, MicroStrategy, has amassed more than 120,000 Bitcoin.
Besides fearing extreme volatility, more asset managers are now beginning to allocate funds to invest in bitcoin once the market returns to normal.Read:Opinion: Bitcoin ETF could lead to cryptocurrency price crash in this case!
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