An ex Blackrock adviser believes: BTC will soon become an inevitable investment. Not only can Bitcoin hold its own in the long term, but there is also the quality to make it into everyone’s portfolio.
Is Bitcoin better than gold? Investment advisor is convinced
Edward Dowd worked for ten years at the world’s largest investment company BlackRock, where he took on the role of director and manager of a stock portfolio. Today, Dowd is especially convinced of Bitcoin.
In an almost one-hour conversation with YouTuber Layah Heilpern, he even speaks out against gold in favor of Bitcoin. However, for the cryptocurrency to overtake the precious metal in terms of market capitalization, it still needs to mature for a while.
Dowd believes that it is very likely that Bitcoin will beat gold for a long time, because in addition to the possibility of both systems to be managed by the owner, BTC can be sent much easier on the digital way.
The Bitcoin will remain. He will be a part of everyone’s portfolio. At least you can exchange Bitcoin digitally, and gold is a much more difficult investment for me. I’m not against gold and having some gold is not a bad idea.
Gold has a long history as a store of value and continues to be a sensible investment, Dowd said.
Dowd is also trying to make the well-known comparison of the crypto market with the dotcom bubble. The Bitcoin at the top of the market has already proven its resilience through several cycles.
However, the former Blackrock manager is sure that most cryptocurrencies will not be able to survive. Of course, he considers Bitcoin to be the most promising candidate to become the crypto equivalent of Amazon.
I compare crypto to the dotcom era, when 90 percent of companies fell to zero. Ten percent of them became Amazon.
Crypto investors would now have the task of finding the needle in the haystack.
It is the task of the crypto people to find out what the crypto Amazon is. I think Bitcoin is obviously in the running. I wish good luck to some of these other coins!
CBDCs are not a threat to BTC
Authorities are rarely friendly to Bitcoin. They prefer to flirt with digital central bank money, the control of which is completely in their hands. Dowd, however, considers CBDCs to be totally harmless compared to Bitcoin.
Only at the beginning of June BearingPoint published the data of a survey with shocking results. In Germany, CBDCs are the most popular digital currencies. Full-fledged cryptos such as BTC and stablecoins are significantly more unpopular.
However, Dowd considers the matter to be clear: since the largest cryptocurrency convinces with its quality, it finally prevails. From the point of view of transparency, freedom and technology, Bitcoin profits.
With a price of $ 21,900 and a market capitalization of $ 418 billion, BTC is still a long way from gold with a market capitalization of $ 11.26 trillion. You can see how BTC could develop further in our Bitcoin price forecast.
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