The Bank for International Settlements (BIS) also commented on crypto and digital currencies: Only central banks should issue digital money.
In a speech yesterday at the Hoover Institute, BIS president Agustin Carstens stated that cryptocurrencies are inherently risky assets and said, “Bitcoin investors should realize that it may collapse one day. Because as it approaches the maximum supply of 21 million, the system becomes more vulnerable to external attacks, ”he said.
How much do you agree with these views?
Andreas Antonopoulos is a well-known Bitcoin advocate in the markets. In an interview, she made very interesting statements for ETH and sparked a new discussion.
Here are their explanations: —- “Much more innovation is needed for the Ethereum system to develop. For this reason, there will be some stumbles in doing this. There could even be devastating casualties. ” —-
—- “The future of Ethereum seems more uncertain than the future of Bitcoin. The use case of Ethereum is much more open, making it difficult and confusing to get ideas. ” —-
What do you think of these statements about ETH?
With the price of Bitcoin increasing so rapidly, the number of wallets that were holding Bitcoin have increased in their value as well. This has resulted in there now being over 100k wallets that hold in excess of one million USD Bitcoin. Upon further inspection of the number of Bitcoin wallet users and holders, it seems that over 15 million wallets hold more than 100 dollars, which is great to show how many people are actually using and taking an interest in Bitcoin now. What are your thoughts on this?
Recently there was a ban that was placed on cryptocurrencies from Nigeria, in which all the Nigerians are no longer allowed to transact in cryptocurrencies. This means that those that were previously active on crypto sites and were being paid out to their bank account, were unable to do so and this posed a major problem for them. In a recent article, the Central bank of Nigeria has actually agreed with the decision, even going so far as to say that the crypto is not considered to be ‘legitimate money’. What do you think about this stance that the Nigerian government has taken? With so many countries considering legalizing crypto, do you think that this decision is justified?
In a letter posted on Miller Value Partners’ website, Miller pointed out that Bitcoin’s performance is the closest to it, earning 10 times more than Nasdaq. Famous investor and co-founder of Miller Value Partners, Bill Miller, said that the Bitcoin-free portfolio would be a big mistake.
What do you think of the views of this great investor?
A businessman in Dubai has said that he is ready to get in on the craze that is being seen with the cryptocurrency market and with Bitcoin, stating that he will invest 4.8 Billion USD into the cryptocurrency. This, based on the current price that we are seeing at the moment, equates to around 100000 BTC coins, and in my opinion, it could be the investment that pushes the price of Bitcoin even further, easily surpassing the 60k USD region. What are your thoughts on this? And is this a good time to invest in light of this recent news?
One of the most important things when it comes to increasing the prices of crypto is to get more investments into it. This will drive up the demand of the coins and will in turn increase its price. In a recent survey that was conducted in Australia, it seems that the Australians are more likely to invest in crypto, rather than gold and silver, showing their confidence in the digital asset rather than the traditional physical assets. This is a terrific way to start increasing the interest in crypto and hopefully many more countries follow in this way as well.