Bitcoin is protection from an unstable economy
Steve Forbes, editor-in-chief of the business publication Forbes, called Bitcoin and other cryptocurrencies a protective tool against unstable economic policies of states.
Cryptocurrency becomes relevant when governments resort to giving out free loans and quantitative easing to restore the economy.
Forbes said the money was needed to simplify trade, not to control the economy. He attributed high price volatility to the current disadvantages of the cryptocurrency. He is sure that mass adoption of BTC is impossible without a fight with politicians and regulators — they will never allow cryptocurrencies to spread as widely as possible.
He added that Bitcoin needs to become "extremely simple" to outgrow the status of a crisis currency. We also need to develop tools to control volatility for the entire digital asset market.
Finally, Forbes remembered the digital currency Libra from Facebook and a hypothetical analog from Amazon. In his opinion, such projects are able to lead the cryptocurrency market. Last year Steve Forbes called Bitcoin a serious threat to governments. Earlier, he supported the Libra project and admitted that Facebook's digital currency could eclipse not only the US dollar but also Bitcoin.
Steve Forbes, editor-in-chief of the business publication Forbes, called Bitcoin and other cryptocurrencies a protective tool against unstable economic policies of states.
Cryptocurrency becomes relevant when governments resort to giving out free loans and quantitative easing to restore the economy.
Forbes said the money was needed to simplify trade, not to control the economy. He attributed high price volatility to the current disadvantages of the cryptocurrency. He is sure that mass adoption of BTC is impossible without a fight with politicians and regulators — they will never allow cryptocurrencies to spread as widely as possible.
He added that Bitcoin needs to become "extremely simple" to outgrow the status of a crisis currency. We also need to develop tools to control volatility for the entire digital asset market.
Finally, Forbes remembered the digital currency Libra from Facebook and a hypothetical analog from Amazon. In his opinion, such projects are able to lead the cryptocurrency market. Last year Steve Forbes called Bitcoin a serious threat to governments. Earlier, he supported the Libra project and admitted that Facebook's digital currency could eclipse not only the US dollar but also Bitcoin.