Bitcoin has had a fair share of support from traditional finance players despite its potential to disrupt this industry. Steve Forbes, the editor-in-chief and current chairman at Forbes, is the latest to make positive sentiments about the cryptocurrency.
Forbes termed BTC as a solution to markets that have minimal trust in fiat currencies with pioneers being the tech-savvy community.
Steve noted that Bitcoin’s next challenge was attaining a stable value just as gold has over the years. This was during as podcast interview where he spoke to Cathie Wood, the CEO at Ark Invest. He added that it Bitcoin would need to become trustworthy, a feature that can only be acquired over time.
Despite Forbes mentioning that Bitcoin is highly volatile, he demonstrated a good understanding of Bitcoin’s potential in the future of financial markets. One of the areas that stood out for him was the coin’s ability to liberate a population from authoritarian governments that control the masses through money supply.
Generally, the views shared by Forbes on digital assets were encouraging to the crypto community although he may have differed with a good number of his counterparts in traditional finance.
Bitcoin’s Price Towards a Stable Value?
Recent crypto market trends have been mostly bearish with BTC being affected significantly. However, sentiments from BayernLB, a German Bank, suggest that the prices would bounce back in 2020.
The most recent report from BayernLB point out that the prevailing market prices that put BTC at $8,200 are yet to capture the halving effect on the digital asset’s price. This is one of the reasons the bank is highly bullish on BTC as we dive deeper into Q4 of 2019. Bitcoin’s potential to gain a stable value like gold, however, remains uncertain given the current information!