Nobody wants pizza for bitcoins
The founder of the cryptocurrency-oriented fund Ikigai and former portfolio manager Travis Kling spoke about the usefulness of bitcoin.
Like many, Kling was previously skeptical of the main cryptocurrency. However, he soon turned into a bitcoin maximalist.
Now he believes that Bitcoin should not be perceived solely as a payment system, because not everyone likes to spend their coins.
“Bitcoin is too good to become a medium of exchange, because everyone remembers the example of pizza, for which as many as 10,000 coins were paid!”
According to Kling, gold is a fairly rare metal, but “bitcoin has an even more provable deficit than gold.”
At the time of writing, the price of bitcoin (BTC) was approximately $ 10,400. Global economic turmoil and the collapse of some altcoins explain the growth of bitcoin this year.
Recently, the ECB announced a rate cut, which led the Eurozone to lower profitability, US government debt also increased. EToro’s senior market analyst Mati Greenspan commented:
“This is a big deal, because to a large extent the entire global economy is at the top of the US debt, and if they fail to meet their payment obligations, this could lead to the collapse of the global economy and social upheavals.”
Bitcoin dominance (BTC) has grown to 70%, winning an additional market share from altcoins. In this regard, Kling said that these tokens may not be of much use.
In conclusion, Kling said:
“Bitcoin is the most significant investment opportunity for a new generation. This technology could be called the most important innovation since the Internet. ”
