According to Bridgewater Analyst, Bitcoin is not a Currency but only a Gold Alternative
An analyst of the US asset management firm that goes by the name Bridgewater has stated that one should view Bitcoin as an alternative to gold and not as an alternative to fiat currency. In fact, to be more precise and hands-on with the approach, it should be referred to as digital gold. Further justifications given by Rebecca Patterson, who is the director for investment research at the Bridgewater associates, argue that it is best to compare Bitcoin to gold due to the structural similarities between the two, which does support the digital gold argument for Bitcoin in general.
Bitcoin should be Referred to as Digital Gold
In a recent interview with Bloomberg, Rebecca argued that it is not right to compare Bitcoin with the fiat currency, and it makes much more sense to associate with digital gold. It should be called digital gold because of the simpler explanation that it is gold; in fact, that is being taken digitally.
She further added into her argument that currently, it is not officially considered digital gold and it is also not confirmed that it might be, so to make an assumption just yet is not right. Also, she had to add that due to this very fact, they can’t urge their customers to buy it just yet. Other speculations said that it might be referred to as digital gold in the upcoming years, but nothing is final just yet.
Some Regulatory Clarification would Seem Nice
For those financial corporations out there which are yet to join the trend having some regulatory insight would definitely make Bitcoin an investable asset. She also did shed some light on the current liquidity, and the high volatility problems of Bitcoin are tied to it not being exclusively regulated as an asset. She further had to add that some influencer’s tweet in its favor can bump the price to 10%, which also states that it is ten times more volatile than your standard fiat currency.
Her argument was strong and viable as she not only pinpoint the shortcomings but also presented a solution that can make Bitcoin along with other cryptocurrencies more stable and investable in the future.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
