Bobby Zagotta, CEO of cryptocurrency exchange Bitstamp USA, suggested that with more widespread adoption of cryptocurrencies, bitcoin will be considered an asset equal to gold.
In an interview with CNBC, Bobby Zagotta said that now many investors are trying to reduce risks and save their funds. Uncertainty reigns in the financial markets, which is why most people avoid high-risk assets. According to Zagotta, rising prices for goods and services, the pandemic and the military conflict in Ukraine are encouraging investors to invest in less volatile assets, and many prefer stablecoins.
However, if private cryptocurrencies become more popular among the global population, then bitcoin will be perceived as an asset equivalent to gold, Zagotta said. He is not alone in his opinion – many supporters of bitcoin compare it with gold. For example, Galaxy Digital founder Michael Novogratz believes that both of these assets can be used as a store of value.
The head of the US division of Bitstamp mentioned the decree of President Joe Biden on digital currencies, noting that it is very important for millions of American users to be able to legally invest in cryptocurrencies. Biden’s directive will increase the trust of organizations and ordinary people in digital assets, and the United States will become the world leader in the cryptocurrency industry, Zagotta said.
Recall that in February, the Bitstamp exchange became a member of the Crypto Market Integrity Coalition (CMIC), which was formed to develop the cryptocurrency industry, as well as to create standards that protect the interests of users.
Source: Bits
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