Jeremy Allaire – the CEO of Circle startup – has expressed his confidence that Bitcoin attracts investors as safe asset – BitcoinDoubler2x has found out.
On the TV program “Squawk Box” of CNBC channel Allaire has noted that in spite of recent BTC rate volatility, it stays popular means for risk hedging.
“It`s obvious, that non-state digital assets, like Bitcoin, are attractive for those people, who want to put their money in such assets, which will be managed personally by them. Bitcoin confirms thesis about digital gold, and I think that many institutional investors buy the first cryptocurrency. What is more, Bitcoin buyers often locate in countries with serious money management issues. This reason has greatly influenced BTC rate for the last 8 years”, – Jeremy Allaire stressed.
What about recent Bitcoin rate volatility, according to the CEO the matter consists in profit taking by large amount of people. Besides, BTC price is influenced by political instability in Hong Kong.
“A case of most people got a certain hit. Bitcoin increased in more than 100%, in about 200%, for the last 9 months. So, it`s time to fix some profit”, – the CEO believes.
Let`s note, that in May of this year the CEO of Circle called authorities to make regulation of this sphere more transparent, and the concept of cryptocurrencies – clearer.