Bitcoin will not be affected by the US dollar’s decline.BTCTim Draper, founder of Draper Associates and an investor, believes that the doubling cycle is responsible for the booms and crashes in the BTC market since 2009.
“Between 10-20 years from now, the dollar will be extinct,” Draper said in an interview with Cointelegraph. “The world is changing, and we are watching it happen. We are right in the center of an anthropological leap forward,” He also added.
Draper says investors view Bitcoin more and more as an asset. “escape valve” against poor governanceThere are many reasons for distrust towards banking institutions. These include inflationary fiat currency, geopolitical tensions and mistrust of banks. driving global adoption Digital currency that is limited in supply. The VC also added:
“The halvings may have less of an effect if Bitcoin runs against the dollar the way it has, because it will probably go for a prolonged period. It will still be affected in some way by that four-year cycle, but I think the effect will dampen.
I think there will be a macro driver that pushes Bitcoin along, and I think the macro driver will be a bigger deal than the halvings,” The VC continues.
Seamus Rocc, CEO of Xapo Bank argues for a possible disruption of the market cycle. four-year cycle isn’t dead yetOthers say that BTC, a traditional asset on the market has evolved into something more macroeconomic.
Related: Bitcoin smack dab in the middle of its adoption curve: Fidelity analyst
USD depreciation will help Bitcoin and alternative hard currencies.
Jeff Park, a Bitwise analyst, predicted in February that Bitcoin would appreciate in value Due to the growing geopolitical tensions and currency inflation as well as the declining US dollar and the return of protectionist policies, they are gaining widespread adoption around the world.
Trump Administration has stated that stablecoins in dollar denominations are crucial to maintain the dollar. global reserve status. It allows anyone who has a phone and a cryptocurrency wallet to demand US dollars by placing it on the rails of blockchain.
Bitcoin maximalist Max Keiser believes that US dollar-stablecoins can only provide a short-term solution for the dollar’s decline and are likely to be abandoned. outcompeted by gold-backed tokens BTC.
Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears
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Source: cointelegraph.com
