As the cryptocurrency markets struggle to return to growth, former Blackrock executive Edward Dowd argues in a recent interview that the cryptocurrency Bitcoin (BTC) has the necessary qualities to establish itself among the reference values within investment portfolios.
The benchmark cryptocurrency, Bitcoin (BTC), could affect global finance
The instability of the crypto-asset markets over the past few months continues to attract the attention of the world’s most important financial regulators and analysts. The latest intervention is that of a former executive of the world’s largest asset manager, Blackrock.
In an interview during which he provides an analysis of the global macroeconomic situation against the background of inflationary pressures, Edward Dowd discusses the topic of the crypto winter and the future of the benchmark cryptocurrency, Bitcoin (BTC), whose price has followed the same trajectory. such as the crypto-asset markets. Despite the current market turmoil, a former Blackrock analyst believes that Bitcoin (BTC) will be part of the global financial landscape for a long time.
“Bitcoin is here to stay. It will be part of everyone’s wallet,” said former Blackrock executive Edward Dowd in an interview.
Besides the fact that the reference cryptocurrency, Bitcoin (BTC), would have intrinsic qualities, such as transparency, technology and decentralization, that augur a sustainable future, the cryptocurrency could even rise in the value of a haven in the same way as gold.
“Although gold remains a viable investment, Bitcoin would have a better chance as a safe haven because unlike gold it can be traded more easily due to its digital nature and also used for payments”, said Edward Dowd, the former leader of Blackrock, during his speech.
If gold and the cryptocurrency Bitcoin (BTC) would not compete head to head and should be inside investment portfolios, in the long term, the first cryptocurrency could nevertheless, according to the financial analyst, “a do better than gold because of its unique characteristics.
“At least Bitcoin can be sold or traded digitally, but with gold it’s much more difficult. While I’m not against gold, it’s not a bad idea to have a small amount either,” said Edward Dowd.
Towards the emergence of tomorrow’s tech giants?
If the former head of Black Rock does not hesitate to compare the “crypto winter” with the bursting of the Internet bubble of the 2000s that saw many projects collapse, he is nevertheless confident about the future of the cryptocurrency Bitcoin (BTC). According to Edward Dowd, the crypto-economy should eventually enter a new phase where “only the strongest companies should survive”.
As crypto asset markets are expected to mature, the benchmark cryptocurrency, Bitcoin (BTC), is expected to “stand out from the rest of the market”, believing it has enough potential to become the “Amazon of cryptocurrencies ” in the future.
Misleading voices about the future of Bitcoin (BTC)
This new intervention comes as another voice has been raised across the Atlantic to predict the collapse of the crypto-asset markets.
Thomas Peterffy, founder and president of the Interactive Brokers trading platform, recently spoke during an interview for Forbes about the state of the cryptocurrency markets. The American billionaire, who weighed more than 18 billion dollars, raises the possibility that Bitcoin (BTC) will no longer have any value in the long term.
“I think there is a good chance that the Bitcoin cryptocurrency will become worthless or be banned,” US billionaire Thomas Peterffy told Forbes.
Following recent developments on the crypto-asset markets and facing the announced desire of global regulators to define a control framework for exchanges, Thomas Peterffy considers that the United States “could look to ban cryptocurrencies”. The main reasons cited were the fight against the financing of illegal activities as well as the difficulty that the United States Treasury would have in tracking the activities and subjecting them to taxation.
This vision is reminiscent of the intervention of the famous businessman and investor, Warren Buffet, who publicly declared last May that the benchmark cryptocurrency, Bitcoin (BTC), had no value. If visions of the future of cryptocurrency seem to differ, the fact remains that crypto-assets and, especially Bitcoin (BTC), continue to be the subject of great attention from the most important traditional financial players.