Bitcoin could be Named 'Digital Gold' if Unpredictability Decreases and Regulators Move in, says Bridgewater Exec.
Bitcoin Enthusiast – Luke
Bridgewater's investment analyst, Rebecca Patterson, suggested Bitcoin might become ‘Digital Gold’ if the cryptocurrency's volatility decreases, and its liquidity increases with "regulatory certainty."
Patterson's words come from an interview with Bloomberg, first mentioned by Business Insider. During the interview, Patterson stated that she will not deem Bitcoin an "alternative currency" and suggested instead that the flagship Blockchain will be best compared to gold as a store of value.
She stated that she thinks the Cryptocurrency can become ‘Digital Gold’ implying that buying Bitcoin could be worth investing in. But she goes on to say that it can only become ‘Digital Gold’ once issues dealing with its volatility, stability, and regulatory status have been addressed. Patterson points out that, as financial investors, they can't tell with certainty that a Bitcoin investment is going to be worth ‘Digital Gold’.
The hallmark Cryptocurrency has appealed to traders as a hedge against fiat currency inflation, as shareholders watch Crypto while thinking about fiat currencies dropping their value with "all this central bank printing." To get Bridgewater investing in cryptocurrencies and to buy Bitcoin, she wrote, a few items will have to be changed.
According to the executive, Bridgewater would like to see its volatility decline as Bitcoin can jump 10% on a tweet for now, which is not necessarily a great store of value for most retail investors. “In addition, the company would like to see better liquidity, which it claims could come from regulatory certainty."
It's worth noting that most observers think regulators may interfere with the growth of Bitcoin. This month, Secretary of the Treasury Janet Yellen said that Bitcoin is “an extremely inefficient" way to execute monetary transfer.
If you are looking to buy and sell Bitcoin, you can register with BC Bitcoin today, the best website to buy Bitcoin in the UK.
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