It is a question posed by many if not the vast majority of people who have even heard the word “bitcoin” and have been informed of its explosive rise in the last year.
It is a question that one must pierce the future in order to answer it completely (positively or negatively). However, the latest developments in both cryptography and the institutional framework of currencies and the printing of dollars, which are sure to exert inflationary pressures not only in the United States but around the world, bring the prospects for security and safety.
Bitcoin for the future
If we look at what is happening on the other side of the western world, on the American continent and focus on the temple of money, in New York, and specifically, on Wall Street, we will find that more and more funds managing billions of dollars for investment purposes are bowing to encryption and its consequence, the cryptocurrencies.
One of them is Anthony Scaramucci. He is the co-founder of SkyBridge Capital, a fund that manages billions of dollars. In February, he decided to invest $310 million, of which $25 million is his own, in the crypto market.
He even founded the Bitcoin Fund LP to attract more money from investors in this direction: “Investors are collecting Bitcoin, which, by its very nature, is impervious to inflation. According to the law of supply and demand, this makes Bitcoin an asset limited and in demand,” Scaramucci wrote in an opinion release to justify his move.
In fact, Anthony Scaramucci paid tribute to the fact that bitcoin is not subject to inflationary pressures. This is why many of the huge Wall Street companies invest part of their heads in the bitcoin market. They want to protect their funds from the inflationary pressures that the dollar is sure to accept in the near future.
This opinion also answered the question of many. More specifically, regarding the concerns about whether and to what extent a bitcoin investment is safe, he noted that the US Treasury Bureau had now authorised banks and depositors to provide encryption services. “This is a move that has eliminated many trust issues related to the encryption market,” he said. “Until recently, as an investment, Bitcoin had unique and obvious risks, but that is changing, with new rules and regulations that have promoted wider institutional adoption,” he added. For Scaramucci, Bitcoin, despite being in the “early adoption phase“, had matured relatively and now offers “significant long-term value“. He also added that he thinks bitcoin’s price will double before the end of the year.