Meltem Demirors Says Bitcoin Is Antidote to Economic Dysfunction - The Founder Daily

Meltem Demirors Says Bitcoin Is Antidote to Economic Dysfunction

by DCompe29110n

The chief strategy officer of investment firm CoinShares says the flagship cryptocurrency Bitcoin (BTC) is an antidote to economic dysfunction.

In a new interview with Yahoo Finance, Meltem Demirors shares her view on BTC as a unique asset amid an increase in spending and money printing caused in part by the pandemic-induced crisis.

“The last nine months in this country, in our economy and markets, have been dysfunctional. And Bitcoin is an antidote to dysfunction that you can buy in your portfolio.”

Demirors says Bitcoin is becoming more attractive as the world and investment options change.

“Bitcoin is a great asset that someone can buy and hold long term, right? We love to use the term “hodl,” but it really is a great place for people to be allocating when they’re thinking about long-term value creation and long-term growth opportunities.”

As Bitcoin hits a new all-time high this month, Demirors also cites what makes 2020 different from 2017, when the king coin first saw a dramatic price surge. She says investors now talk about BTC the same way they talk about other allocations.

“This cycle is so different because the narrative is very focused on Bitcoin. We see major investment banks. We see central bank governors talking about Bitcoin…

“Bitcoin historically, relative to markets and the options investors had, has felt volatile. But this year, Bitcoin’s volatility is at all-time lows, and the rest of the world, other asset classes, other markets, have gotten way more volatile. I was just running the numbers. Tesla, this year alone, up 655%. Bitcoin up 226%.”

Demirors also notes that Bitcoin is different from other cryptocurrencies, as it has no company behind it and has been determined to not be a security by the U.S. Securities and Exchange Commission.

“Bitcoin’s fundamentally different from every other cryptocurrency. Bitcoin is not like anything else. The way that Bitcoin was created, the long distribution cycle, the fact that it’s been in the market for 12 years, there’s no CEO of Bitcoin you can call.

You know, if you wanted to file a lawsuit against Bitcoin, you couldn’t even begin to do that because there is no one entity that controls Bitcoin.”

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