Coinbase CEO says that investors looking at Bitcoin (BTC) after he lost the boat in the Gold Rally
Coinbase’s senior executives say that investors who have been lost in the huge gathering of Gold may start in the floods to Bitcoin (BTC).
In a new interview on CNBC Squawk Box, John D’Agostino, President of Coinbase in the institutional strategy, He says Bitcoin is one of the attractive assets of investors looking for a golden alternative as a hedge against inflation.
“You spoke to two merchants who said if you believe in these conditions, the conditions for canceling these fading will continue, you look at gold clearly first and foremost. But you may miss you in this trade. You look at this gathering and say I missed the boat on that. So what can other assets in this market shared from the long -term inflation?
When you work, there is a very short list of origins that reflect the properties of gold. Bitcoin in that short list. In addition to the four characteristics I mentioned [scarcity, immutability, non-sovereign asset, portability]It is a scarcity of mining, it is difficult to mining more difficult over time. ”
He also says that investor analysis shows that Bitcoin is the best performance of performance during market disturbances and inflation conditions.
“I know that two of the best commodity merchants in the world, and five or six years ago they believed that inflation would continue and be an issue. There is no perfect hedge for inflation. We all know that. Because there is nothing perfect. So, they invented a basket, what they do in hundreds of different origins and say what is the best possible basket of the association, the maybe the United States, and what they do. One assets.
Bitcoin is trading for $ 93,146 at the time of writing this report, an increase of 2.6 % in the past 24 hours.
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