Bitcoin will not be affected by the US dollar’s decline.BTCTim Draper is an investor and founder partner at venture capital firm Draper Associates. He believes the halving cycles are the cause of BTC’s market ups and downs since 2009.
“Between 10-20 years from now, the dollar will be extinct,” Draper spoke to Cointelegraph during an interview. “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 stated that investors are increasingly viewing Bitcoin as an investment. “escape valve” against poor governanceThere are many reasons for distrust towards banking institutions. These include inflationary fiat currencies and geopolitical tensions. driving global adoption Digital currency that is limited in supply. The VC said:
“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 was continued.
Seamus Rocca (CEO of Xapo Bank) argues that there is a possibility of a disruption to the 4-year cycle. four-year cycle isn’t dead yetOthers claim that BTC is a mature macroeconomic asset, which has lost its old market dynamics.
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 The globalization of and is due to the increasing geopolitical conflicts, currency inflation and decline in the US dollar.
Trump has said repeatedly that stablecoins denominated in dollars are essential to the dollar’s stability. global reserve status. The dollar is placed on the blockchain, allowing anyone with a smartphone and crypto wallets to increase demand for US Dollars.
Bitcoin maximalist Max Keiser, however, argues that US Dollar stablecoins will only be a temporary fix to the falling dollar. outcompeted by gold-backed tokens BTC is a cryptocurrency.
Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears
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Source: cointelegraph.com
