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On Honeybadger Baltic event in Riga on August 10,, Willy Woo shared his attitudes about Which holds bitcoin
Btc
119.025,90 USD
Return from becoming a true global reserve.
Woo explained that Bitcoin needs more money that goes into it to compete with an American dollar or gold.
He said to the audience, “The thing is, you can’t change the world if this monetary property doesn’t get big enough to make US dollars rivals.”
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However, he pointed to A few key reasons why bitcoin can pass that goal.
One concern is how Companies holding bitcoin on their balance sheets manage their financial risk. Woo said many of these companies use borrowed money to buy bitcoin, but there are few public information about how these debts are structured.
He also noted that some non-Bitcoin projects copy this approach, which could lead to another bubble throughout the market.
The second is a question How big investors decide to get exposure Bitcoin. Instead of holding it directly, many buy shares in the Spot Bitcoin Exchange Funds (ETFS) or Companies Companies such as a strategy and guardian like Coinbase
$ 11.8 million
.
Woo said that could reciprocate if the governments decide to step into and take control of these centralized shares. Avoiding confidence, investors open doors to the risk of seizure or limiting state actors.
He raised the possibility These risks become more obvious during the market fall. In this situation, it would become clear which companies are unprepared, and many bitcoins could be forced into the market.
Recently, Ray Dalio, founder of Bridgewater Associates, advised to allocate about 15% of someone’s investment portfolio for Bitcoin or Gold. Why? Read the whole story.
