Former Blackrock executive and investment adviser, Edward Dowdemphasized that, despite the recent turmoil in the crypto market, “Bitcoin is here to stay”.
speaking on the podcast of Layah Heilpern, Dowd says he believes that once Bitcoin matures, it will likely beat gold due to its unique characteristics, such as the ability to conduct digital transactions. According to Dowd, while gold remains a viable investment, Bitcoin has more possibilities as a store of wealth. He stated that Bitcoin’s growth journey, characterized by volatility, is helping the cryptocurrency’s ability to stay active longer. The investment adviser also added that with the maturity of the cryptocurrency industry, Bitcoin is likely to stand out from the rest of the market. Dowd believes that the cryptocurrency market can be compared to the dot-com era, when most companies collapsed while the strongest survived, and he compared Bitcoin to Amazon.
Additionally, Dowd argued that Bitcoin’s growth would be driven by key attributes of the asset that make it better than central banks, such as transparency, freedom and technology.
Disclaimer: The information found on CryptoReport is that of the cited writers. It does not represent the opinions of Criptoinforma on whether to buy, sell or hold investments. You are advised to conduct your own research before making any investment decisions. Use the information provided at your own risk.
Buy and sell Bitcoin and other cryptocurrencies on Binance, the most comprehensive cryptocurrency exchange to safely and conveniently invest in the world’s most traded cryptocurrencies. Sign up and see how simple it is, go to: https://binance.com