Jad Comire: “regulators are not going to ‘kill’ bitcoin”

Get real time updates directly on you device, subscribe now.

Melanion Capital founder Jad Comire disagrees with Ray Dalio and believes that it is not profitable for regulators to “crush to death” the first cryptocurrency.

Recently, billionaire and hedge fund founder Bridgewater Associates Ray Dalio said that regulators might not like the overly successful bitcoin and could “end it once and for all.” Jad Comair considers such statements “extremely extreme”.

Comire noted that too many people have already invested in bitcoin, including in the United States. And if American regulators prohibit working with this asset, then this will entail negative consequences for the country’s economy.

“I think this is too extreme and I think it is unlikely that a developed country like the United States or any of the G7 members can take such a tough and strong step. This is a very hypothetical scenario, ”said CIO Melanion Capital.

The Frenchman also recalled that most countries introduce regulation of digital assets not because they want to ban them, but in order to protect investors in such assets. And proper regulation can help the development of the blockchain and cryptocurrency industry.

“Once there is adequate and correct regulation, we will see the full power of cryptocurrencies,” said Jad Comire.

As for the rate of the first cryptocurrency, the founder of Melanion Capital is confident that Bitcoin will never collapse to zero. This is facilitated by the increasing adoption of the first cryptocurrency. He said that it is very difficult to make predictions, but he supported the opinion of Katie Wood, who repeatedly expressed confidence in the BTC rate reaching $ 500,000. The same factors that allowed Bitcoin to reach $ 50,000 will help in reaching $ 500,000.

Jud Comire has also “walked” through gold – in his opinion, this is the worst hedging asset at the moment. The point is the harm to the environment, which is caused by the extraction of precious metal. Bitcoin is much better in this sense, says a top manager at Melanion.

“The gold mining industry is about digging huge holes in the ground, mining gold with mercury and chemicals, and that devastates everything. Bitcoin is much better – it is also suitable for storing capital, does the same thing, but does not harm the environment, “Comire said.

Note that bitcoin is often called an environmentally harmful cryptocurrency due to the fairly large-scale carbon dioxide emissions from BTC mining. The Chinese authorities have even banned bitcoin mining due to these concerns. However, mining companies are constantly on the lookout for greener energy sources.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.