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Rock Zacharias, CEO of Lunar Digital Assets platform, believes that Bitcoin’s volatility is what makes it more interesting and attractive compared to gold.
In an interview with Kitco News, Rock Zacharias emphasized that the volatility of Bitcoin suggests that people are getting rich on this asset. With gold, the situation is completely different – for a decade the gold rate has been stable, and profits from trading in precious metal are minimal.
“Now gold is trading at the same price as ten years ago. Bitcoin has grown 10,000 times over the decade, or 1,000,000%. And I choose volatility. If the asset is not volatile, then you are losing profit. There is no alpha asset in the market, although Bitcoin still has a lot of potential. Cryptocurrencies can disrupt government and private bond markets. Everything is just beginning, ”said CEO of Lunar Digital Assets.
Zacharias also stressed that it will not be possible to change the basic bitcoin code, unlike assets like ether. Therefore, it is better for long-term investors to choose the first cryptocurrency, so as not to worry about a sudden change in “monetary policy”.
At the same time, investors should not fall for the “cryptocurrency hype”. Bitcoin and other leading cryptocurrencies will reach new highs, but this may well be accompanied by significant corrections. For example, the BTC rate may fall by 60% and only then reach a new all-time high.
Earlier, economist Louis Navelier said that the stock market has inflated a significant bubble. This could lead to a powerful correction of risky assets, and the bitcoin rate could collapse to $ 10,000. But according to the founder of the Skybridge Capital investment company Anthony Scaramucci, the BTC rate will continue to rise up to $ 500,000.
#Volatility #bitcoin #gold