What should happen to Bitcoin (BTC) to strengthen its role in the public eye as a viable investment option?
Aleks Svetski, CEO and co-founder of Bitcoin investment platform Amber, emphasizes "This is NOT a technological revolution" for Bitcoin and says:
“THIS IS A FINANCIAL REVOLUTION. It takes centuries to tradition (as a tradition). IT IS POSSIBLE FOR BITCOIN TO DO THIS TENS YEARS IN THE DIGITAL AGE. ”
Bitcoin rises despite instability
Since Bitcoin's price dropped 50% in March, amidst fear and uncertainty of coronavirus, mainstream markets and the media have become increasingly concerned with the leading presence of cryptocurrencies. Cryptocurrency has also made a great return by gaining more than 130% of value from a low value.
The positivity of Bitcoin occurs in unstable mainstream market conditions. Along with traditional market indicators, business closings and corona virus prevention measures, they have released some of their worst performances since the market collapse in 1987. Although markets have recovered since then, unemployment figures remain a source of concern for constant deterioration.
Bitcoin, a global asset, is independent of government control, which can be attractive during economic uncertainty. "In the structure we call society, we see that there are more people who want to protect their wealth in a situation that may result in the intervention of the state, no matter how hard the situation is seen, whether financial, financial, social or political," Svetski said.
Bitcoin gains strength in mainstream recently
Recently, Bitcoin has faced interest in the crypto industry of some mainstream assets, including billionaire Paul Tudor Jones and her Bitcoin hedge game. At this point, Svetski emphasized the following two reasons for attracting the public to the crypto:
“I have a saying:“ People will enter Bitcoin for curiosity or pain. I also add greed. But more people have a sense of curiosity. ”
Even JPMorgan Chase has recently announced that it will offer its services to crypto exchanges, Coinbase and Gemini. This move marks a sharp transformation of ideas after 2017, when the banking giant CEO Jamie Dimon called BTC fraud.
