Technology

Anatoly Knyazev: the theory of bitcoin as a protective asset did not materialize

After the occasions of March 13, when the value of bitcoin for a quick interval misplaced greater than 50% of the worth, cryptocurrency will not quickly justify the standing of a protective asset. This was said by Exante CEO Anatoly Knyazev throughout the ForkLog on-line convention Digital Medieval.

“When bitcoin first appeared, it was anticipated that it will be a international cost system, then it grew to become clear that it was price treating it as a defensive asset. After March 13, a stunning story was not confirmed. After such actions, it is rather tough to persuade the investor that it's a defensive asset that may value greater than $ 100,000. ” - stated the speaker.

BitCluster founder Vitaliy Borschenko famous that Bitcoin has gone down quicker than inventory markets. Nevertheless, the head of the path of the distributed accounting methods of the Nationwide Settlement Depository, Alexander Yakovlev, indicated that panic patterns may not be analyzed:

“The proof that Bitcoin is a defensive asset could also be the indisputable fact that its value has recovered quicker to a stage larger than the earlier one.”

In flip, the consultant of Binance in the Russian Federation Gleb Kostarev stated that bitcoin can not act as a full-fledged analogue of the greenback, however this phenomenon is short-term:

“I consider that bitcoin is simply such an asset that may compete with gold, and over the subsequent few years we'll come to this. Maybe cryptocurrencies from expertise giants are the subsequent altcoins that will probably be in demand. ”

Try the Digital Medieval On-line Convention right here.

READ  Binance mining pool found the first block in the Bitcoin network

Discovered a mistake in the textual content? Spotlight it and press CTRL + ENTER

subscribe to information Forklog

About the author

Avatar

Sam Conley

Sam Conley is new to online journalism but she is keen to learn. She is an MBA from a reputed university. She brings together relevant news pieces from various industries. She loves to share quick news updates. She is always in search of interesting news so that she can share them as well to Sunriseread's readers who could enjoy them with their morning coffee.

Add Comment

Click here to post a comment

Quick Contact!

To get in touch with Sunriseread or to tell us about a Story or Press Release, just send an email to lindahopkins128 @ gmail.com
. And, we will get back to you shortly.