Kraken OTC Head: Bitcoin Is Not Secure Haven But
Head of over-the-counter (OTC) gross sales at cryptocurrency alternate Kraken Nelson Minier in contrast at the moment’s cryptocurrency buying and selling business to how Wall Avenue was once, including that it’s nonetheless too quickly to name Bitcoin a secure haven for buyers.
Through the Nasdaq TradeTalks interview published on Aug. 22, Minier acknowledged:
“Wall Avenue ain’t what it was once. The primary 15 years I used to be on Wall Avenue, it was enjoyable. I used to be very lucky. I began within the CDS market which feels so much like crypto. Right here you will have lots of monetary innovation, lots of buying and selling. It feels very very like that, […] there’s lots of power and enthusiasm about this progress and the place it is going.”
Too early to name Bitcoin a secure haven
The interviewer additionally touched on the subject of the more and more well-liked concept that Bitcoin (BTC) is changing into a secure haven asset as a consequence of its lack of publicity to the financial coverage restrictions that fiat currencies are subjected to. Minier answered that he believes it’s too early to name Bitcoin a secure haven asset given its excessive volatility. He additionally admitted:
“So, I’m not so positive that it’s a secure haven asset but, however I do suppose that it’s beginning to act like one. I feel that persons are beginning to portfolio handle, are beginning to are available in slowly. And when the market is getting shaky you noticed Bitcoin rise, I imply, you wouldn’t see that earlier than, it was buying and selling like a dangerous asset.”
Lastly, he concluded that regardless of it is too early to name Bitcoin a secure haven, “we’re heading that means for positive.”
As Cointelegraph just lately reported, senior analyst at market technique and sector analysis firm Fundstrat International Advisors Tom Lee is assured that Bitcoin already grew to become a real secure haven for buyers.