Bitcoin Is The Best Safe Haven And XRP Is Changing Cross-Border Payments
Bitcoin has been seen as a viable safe have in 2020 amidst the global crisis trigger by the pandemic.
Interest in the king coin has been on the rise and people have been even investing their $1,200 stimulus into the coin, according to reports coming from Coinbase.
It’s also worth noting that after the March fall in price when Bitcoin traded below $4,000, the king coin managed to come back around $9,000 in a really short amount of time.
At the moment of writing this article, Bitcoin is trading in the green, and the coin is priced at $9,389.69.
Long term BTC bull run upcoming
Ripple’s head of global institutional market says that the stage is now set for a long term bull run.
During a recent episode of Block Stars, Breanne Madigan said that Bitcoin managed to solidify its status as a store of value and a potential hedge against the economic global risks.
“If you were to look within the asset class of crypto, if any asset could be considered safe-haven more reliably, I’d say that’s Bitcoin. Just given its core utility has always been this concept of a store of value, so it would be the natural beneficiary of that core utility case. Bitcoin has still been the best-performing asset so far year-to-date, up almost 40%…” she said.
She continued and explained that “Markets love transparency, and so that is what makes Bitcoin very attractive in many respects, because it’s forecastable and people understand exactly what’s going to happen and when it’s going to happen.”
Markets love certainty
She also said that the markets love the sense of certainty and she brought up the past two halvings, saying that there was continued appreciation and then followed the high.
She highlighted that there are more than enough reasons to be optimistic about Bitcoin and other coins as well.
She said that investors would broaden their horizons beyond BTC as the industry keeps evolving. Madigan also talked about XRP and how it’s changing cross-border payments.
Check out the original article in order to find out what more she had to say.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.