Cathie Wood, the founder & CEO of ARK Invest has a sit down with Forbes chairman and editor-in-chief Steve Forbes, in which they discussed, among other themes, the trustworthiness of cryptocurrencies.
"Bitcoin is what you might call a high-tech cry for help"On Oct. 6, chairman of Forbes Media Group, Steve Forbes, joined ARK CEO Cathie Wood and ARK analyst James Wang on their most recent ARK podcast.
While most of the 55-minute long podcast is dedicated to the traditional markets, towards the end, Forbes shares his views and thoughts on cryptocurrencies, in particular, Bitcoin.
Forbes calls Bitcoin "a high-tech cry for help," due to the people's lack of trust in traditional currencies, and points out that the challenge for Bitcoin lays in becoming a coin that is as trustworthy as gold, which has earned its status the hard way over the course of thousands of years.
"In the meantime, it's performed a very important role in helping people in distressed situations around the world: getting around governments that want to control you and starve you and hurt you."
Forbes' views on cryptocurrency and Bitcoin in particular were quite positive, which is perhaps somewhat surprising, considering the traditional financial environment he thrives in.
Bitcoin outshining gold?Cointelegraph previously reported that another traditional financial institution, the German bank BayernLB, suggested that Bitcoin was getting ready to make a big leap forward for in 2020.The bank published its latest research report, which stated that the forthcoming Bitcoin halving effect is yet to be factored into its current price of about $8,200 and that a "Vertiginous price of around USD 90,000" might emerge in 2020.
Forbes Chairman Believes Bitcoin Can Help Fight Authoritarian Gov't
gepubliceerd op Oct 8, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.