Daryl Ho, a Strategist at DBS, Claims That Bitcoin Is Unique Regardless of Price Action
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Daryl Ho, a strategist at DBS, claims that Bitcoin is unique regardless of price action. Daryl Ho emphasized that Bitcoin remains a distinctive digital asset despite the continuous macabre dance in the cryptocurrency market. He described the volatility and price movement of Bitcoin as a shroud that prevents investors from appreciating the advantages of the digital asset.
Still standing by his position, he continued by pointing out that the significance of Bitcoin was not due to price movement or volatility, but rather the ability to transfer value without the need for a middleman like a bank.
The monetary system was formerly completely governed by the central banks’ enacted policies before the creation of Bitcoin. Without the assistance of a third party, you could not normally transfer money anywhere. However, Satoshi’s contribution to blockchain technology has made it possible for money to be transferred without a third party and any trust issues.
Bitcoin’s Significant Advantages So Far
It is worth noting that during the previous thirteen years, Bitcoin seems to have significantly grown and appreciated. Consequently, the cryptocurrency market is now more attractive to investors.
The fact that bitcoin may be quickly converted into fiat currency at any time is another advantage that cannot be ignored. This advantage is unmatched by any other market or sector for spot trading. Exchanges for cryptocurrencies are always open for trading, even on weekends.
Remember that DBS saw a big increase in trade volume on its digital asset exchange in August? Piyush Gupta, the CEO of DBS Bank Group, asserts that while Bitcoin may not ultimately become money, it can serve as a substitute for gold and its value.
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