Quantum Fintech Group founder and managing partner Harry Yeh posited that the devaluation of the US dollar may very well be the booster of the Bitcoin (BTC) price.
Yeh spoke about the dynamic for Bloomberg Markets and Finance where he stated that the policies of the Federal Reserve are isolating the printing of currency and simultaneously propelling Bitcoin (BTC).
Yeh argues that the introduction of money into the economy is the primary cause of Bitcoin (BTC) being put in the lead as a viable option. He also said that cryptocurrencies have moved past the point of crashing and being unremarkable to embracing a significant position on the retail and institutional investor portfolios. To put it differently, it is no longer a matter of if cryptocurrencies will be in the picture, but rather, what milestones will they be conquering next.
Yeh additionally said that the attitude of investors should change from entering the crypto realm with disbelief to analyzing what digital assets would complement their portfolio best.
Additionally, the Quantum Fintech founder said that the inflationary atmosphere presents a unique opportunity to enter the market since Bitcoin (BTC) is a hedge against inflation and cushions the blow as far as inflation is concerned.
Yeh posited that “Bitcoin and other cryptocurrencies are used as a hedge against inflation right now. The more money printing that happens, the more the value of Bitcoin and all of these things tend to rise, but I think of it as an inverse. I don’t think that Bitcoin’s going up in value, it’s just the dollars worthless.”
Moreover, Yeh said that the cryptocurrency market does have its advantages as compared to the stock market because investors can acquire digital assets with any monetary sum, and inflation worries and institutional interventions would empower cryptocurrencies, Bitcoin (BTC) in particular.
Even though Bitcoin (BTC) trades in lockstep with other volatile assets, Yeh admits that the biggest cryptocurrency has the overwhelming advantage of having inflation work in its favor by negatively impacting the investing alternatives from traditional finance.
These remarks come after Bitcoin (BTC) is trading in calmer waters having pushed through the 50k resistance. Having gained 11% over the past week, at the time of writing the biggest cryptocurrency was trading at $51,300.
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