Respected Crypto Analyst of Vision Hill Claims Bitcoin Primed to Become a “Global Reserve Asset”
As we all know by now, Bitcoin’s mainstream perception has changed quite drastically over the course of the past few years. For example, during its early stages of notoriety, many thought of the premier crypto asset solely as a form of digital cash. However, over the past couple of years, BTC is now seemingly being viewed by experts as a “digital version of gold” (primarily because of its non-inflationary, borderless, and fungible nature).
If that wasn't enough, recently many investors have been claiming that Bitcoin is poised to become the next “global reserve asset” (despite there still being some obvious nicks in the monetary framework of the currency).
More On The Matter
In an informal back-and-forth with his Twitter followers, Dan Zuller, a partner at Vision Hill Advisors, mentioned that he would not be surprised if Bitcoin starts to gain immense monetary traction when the next stock market collapse takes place.
On the subject, he then went on to note:
“Digital assets are still ‘risk-on’ assets, and could thus be more susceptible to “contagion,” especially in a macro bear-induced market winter.”
1/ Sharing some thoughts on what happens to #crypto & digital assets during the next economic downturn. Some think digital assets are still “risk-on” assets & thus expectedly carry the risk of contagion (w/ higher correlations) in a global macro bear market.
— Dan Zuller (@danzuller) January 24, 2019
In addition to all this, Zuller also refuted some of the assertions put forth by Fred Wilson in his recently-released crypto research piece, wherein he noted that the altcoin market was not immune to a ‘market downturn’. On the subject, Zuller went on to state that when looked at from a historical perspective, severe financial downturns have primarily affected “public stock markets” (since they possess the highest beta values) and not digital currencies.
Zuller then went on to make the following bold assertion:
“The Bitcoin ecosystem is evolving and is well on its way to becoming a global reserve asset.”
He then admitted that BTC’s eventual hegemony in the above-stated area of economics would still take at least a “few more macrocycles” to prove its “monetization and economic independence.”
In closing out this article, it should be noted that Ryan Selkis, CEO of crypto data portal Messari, recently spoke about BTC’s potential upside as a hedge against “inflation recession.” In an interview with a respected media outlet, Selkis went on record to state that he sees BTC as an excellent ‘Store of Value’ (SoV) that will garner an immense amount of mainstream traction during the next financial meltdown (something which many experts believe is just around the corner).
Lastly, in a recent article published by NewsBTC, an “industry insider” told the publication that as and when the next global economic recession begins to set in, hordes of investors will flock towards digital currencies like BTC, ETH, BCH.