Dan Held, who is the growth lead at crypto exchange Kraken just pushed back against the fear, uncertainty and doubt (FUD) that is lingering amidst this Bitcoin bull run.
Held is a longtime Bitcoin investor, and he recently said that there is always noise whenever Bitcoin roars.
FUD lingers amodts the Bitcoin bull run
“Whenever Bitcoin has a bull run, naysayers try to cope with missing the boat by rationalizing why it will fail through ‘Fear, Uncertainty, and Doubt’ or what we Bitcoiners have nicknamed ‘FUD’.”
Held also made sure to cite an article that’s been published by the Federal Reserve Bank of St. Louis, Held rebuts the claim that Bitcoin has no intrinsic value.
“Complaining it has no intrinsic value when their primary government currency has absolutely no intrinsic value (No, the US dollar is not backed by gold). ‘Bitcoin units have no intrinsic value… the U.S. dollar, the euro, and the Swiss franc, have no intrinsic value either.’ – Federal Reserve.”
The crypto veteran also made sure to address the notion that BTC is a bubble bound to fail.
“Bitcoin ain’t tulips. It provides the world with the best digital store of value ever created, allowing people to store value that is hard to seize and transmit it to anyone else in the world without permission.”
Make sure to check out the original article that’s been posted by the Daily Hodl these days to see what more he had to say.
New wave of institutional investors floods the crypto space
At the moment of writing this article, BTC is trading in the red and it seems that the king coin is suffering a new correction.
BTC is priced at $33,048.52.
In other news, it’s been just revealed that Ark Invest founder and CEO Cathie Wood said that she’s expecting a new wave of institutional investors to come to the crypto space.
During a new episode of ARK Invest’s In The Know Series, Cathie Wood stated that she sees a massive spike in institutional interest in Bitcoin.