Meltem Demirors, director of strategy at CoinShares, believes that the current geopolitical tensions will best show the maturity of bitcoin.
CoinShares Chief Strategy Officer Meltem Demirors in an interview with Bloomberg Technology
statedthat global sanctions after the escalation of the conflict in Eastern Europe and the blocking of the accounts of the “Freedom Convoy” by the authorities in Canada can move bitcoin from the category of high-risk assets into a reliable way to protect capital.
“Not only do we have a conflict going on in Eastern Europe, but Canadian truckers have also had their banking system cut off recently, and this has sparked a lot of discussion about cryptocurrencies. I think we are seeing a growing awareness around the world that, for the first time, people who are victims of superpower wars have a choice. Bitcoin and other cryptocurrencies are non-political global money.”
Demirors noted that the increase in the use of cryptocurrencies, including far beyond the conflict zone, indicates that investors around the world are turning their attention to cryptocurrencies in response to geopolitical crises.
“We are seeing not only an increase in trading activity in Ukraine and Russia, but also a lot of trading activity that comes from the US, as people follow what is happening around the world. Perhaps this is the beginning of the fact that bitcoin is no longer a risky asset.”
Demirors stressed that it will take more than one year to understand that bitcoin has become a mature asset. According to her, in the coming months, investors will receive much more information about cryptocurrencies than in all previous years after their appearance on the financial market.
At the same time, world governments are trying to put pressure on the crypto business in their own interests. Recently, the Biden administration reminded cryptocurrency exchanges that Russian users on sanctions lists should not receive digital currency trading and exchange services. To which the CEO of the largest cryptocurrency exchange Binance, Changpeng Zhao, said that only one Russian was blocked on the site. At the same time, the CEO of the Kraken exchange compared the requirement to block clients from Russia with the Canadian authorities’ ban on serving Convoy Freedom crypto wallets.
Source: Bits
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