In an interview on Repubblica, Nicholas Bertrand (Former director of the Italian Stock Exchange) intervened in defense of cryptocurrencies and support of the digital euro.
Bertrand: The crisis facing the global market can be combated with cryptocurrencies
Bertrand, former CEO of the Italiana Stock Exchange and the London Stock Exchange, explains how the raw materials crisis and current situation are making both the stock market and government bonds volatile.
The situation described by Nicholas Bertrand is the following:
Today, there are great fluctuations. Vix reached 33%, and in 2020 it was 15%, and the stock market is very nervous. Interest rates and profits are the main determinants of prices and this time around the pandemic there are many uncertainties about both variables.
On the one hand, inflation is up, the highest day in the past 40 years, the price of coal has gone up 281% in one year, the price of gas is up 284%, and the price of wheat has gone up from $6 a bushel. . priced at $11; Thus there is pressure on prices. But due to the macroeconomic situation, and the many risks, corporate profits can also be affected and this leads to uncertainty about profits.
The result: Investors cannot turn to government bonds or the stock market and all of this is fueling volatility.”
Thus, the uncertainty surrounding the experience of investors may turn to digital currencies such as Bitcoin, but it appears that this asset is also present Sizes smaller than pre-crisis sizes:
The world of digital assets is still young and struggling with what happens in the traditional world, it is not yet independent. The number of wallets in the world, according to Statista 2022, is about 90 million so far.
An investment of $1 trillion in digital assets is down from global assets under management. But technological innovation continues.”
In short, cryptocurrencies are the near future, but they still have to evolve and spread in the wallets of savers, in order to expand the base and The normalization of assets even in the eyes of the average person.
Reasons why bitcoin and cryptocurrency will be a lifeline in the future
According to Bertrand why Bitcoin futureAnd cryptocurrencies in general, it’s rosy, it’s about their characteristics it can not be controlled.
Unlike fiat currencies, which are manipulated according to needs through expansionary or restrictive policies of central banks, Bitcoin cannot be changed, for example, through external intervention.
As the Nobel Prize-winning economist hypothesized, Friedrich von HayekAlready in the middle of the twentieth century, it was believed that coins should not depend on central banks, fallible subjects, but only on the market.
The potential of the blockchain, according to the former CEO of Piazza Affari, is enormous and central banks, rather than demonizing BTC, should focus on creating, developing and deploying Euro Digitalin order to be in line with other digital currencies and accommodate Market Opportunities It offers to address and engage a large number of new and very young investors who are making the web their home.
In this new digital age, the web is becoming a parallel metaphysical but real reality, and the economy that develops is A new source of cash Which must be attacked to take advantage of new opportunities.
Nicholas Bertrand’s Conclusions on Cryptocurrency
These days, the Crypto Conference 2022 was also held at FICO Eataly World in Bologna, where Nicholas Bertrand, in a comprehensive speech, also returned to talk about cryptocurrencies and The potential of this great strategic asset:
“The importance of cryptocurrencies and digital assets can no longer be denied, not just based on numbers. We are facing a new, highly innovative industry with disruptive potential. Above all, compatible with whatever the new generations require.
Suffice it to say that one in 10 Milan trams has Bitpanda ads, and the biggest football and Formula 1 teams are sponsored by companies such as Binance, FTX, Bybit, Crypto.com and DigitalBits.”
Calling on institutions and professionals to be more courageous and seize the opportunities available in this world, considering how important this is for countries like Italy.
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”
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