People buy bitcoin to protect their assets

People buy bitcoin to protect their assets
Abstract

Jeremy Allaiire: Managing Director of digital currency-based financial services company Serkel said he hoped Bitcoin was a safe haven for investors, despite its recent fluctuations.

23 6 19

Jeremy Allaiire: Managing Director of digital currency-based financial services company Serkel said he hoped Bitcoin was a safe haven for investors, despite its recent fluctuations.


He made the remarks on CNBC Squawk Box television program and explained:

Certainly the idea of   an autonomous and independent digital asset such as Bitcoin is very appealing to those who want to keep their capital in a place where they can control it. This [bitcoin feature] can justify many people's interest in the currency in the last ten years.

This is the well-known hypothesis of digital gold, and I believe that there are many institutional investors in Bitcoin and people living in a particular area or area who are very concerned about controlling their capital. This hypothesis has been one of the most important factors behind the success of bitcoin over the past eight years.




According to Aller, the recent volatility has been the result of people's rush to make more profit after the first month of the recent uptrend. He points out:

Last week was a very risky week for the stock market, while that space was already riddled with many digital asset owners whose larger investment portfolios had suffered.

But Aller says that expecting a little bit of profit from Bitcoin because of the great year so far is not unexpected. He added:

Bitcoin's 100 to 200 percent growth over the past nine months has made it a profitable space. Depending on what kind of preserver you are, you may see behaviors in the current market fluctuations that are slightly different from past behaviors.

The CEO also pointed out that digital currencies are one of the things investors are looking at. According to him, digital assets are becoming one of the major issues around the world, due not only to the continued growth of bitcoin's large digital currencies, but also to stable currencies such as the UDC Coin and the Libra.

According to earlier reports, Fundstrat's senior analyst Tom Lee is confident that Bitcoin will become a safe haven for investors.




Source: cointelegraph

User's perspective
(Required)
(Required)
Featured Entries
Related content