Nayib Bukele is confident that BTC will record profits due to the impending scarcity
Nayib Bukele is confident that BTC will record profits due to the impending scarcity
- nayib bukele believes that the price of Bitcoin will soon rapid
- The finance minister of El Salvador responded to the claims of the IMF to drop Bitcoin as a legal currency
The President of El Salvador, Nayib Bukele, once again publicly expressed his optimistic view of Bitcoin and predicted this in predicted "only one matter of time," The crypto-asset would record enormous price gains.
scarcity to heat up the upward trend of the Bitcoin price
Yesterday Bukele postulated that the maximum offer of Bitcoin of 21 million coins may not be sufficient to meet demand if acceptance increases. He assumes that Bitcoin has increased
adoption and scarcity would be a catalyst for the predicted upswing.
" There are more than 50 million millionaires in the world. Imagine each of them decides to have at least one bitcoin. But there will always be only 21 million bitcoin. Target = "_ blank" href = "https://twitter.com/nayibbukele/status/1480180223704583?s=20&t=mz3hd-grryflagiimvi8lg"> sent on his Twitter.
It is generally known that theoretically, in addition to many other factors, increased acceptance leads to an increase in prices. However, the investment bank Goldman Sachs recently warned that this does not necessarily have to be the case, since the general introduction may not raise the prices.
The bank further argued that this could even undermine the narrative about the use of digital assets to diversify a portfolio.
" mainstream acceptance can be a double-edged sword. While it can increase the ratings, it will probably also increase the correlations with other financial market variables, which reduces the diversification advantage of keeping the investment class", strategist of the bank wrote .
el Salvador and the call of the IWF
Bukeles Bitcoin claim came after the International Monetary Fund (IMF) EL Salvador had asked to stop his Bitcoin experiment. It was said that Bitcoin was a big obstacle for the country that receives the $ 1.3 billion loan for which it is in conversation. The currency committee cited concerns about the financial stability and risks of consumer protection and fiscal eventual liabilities.
"crypto is used to get money from countries that are considered unstable (from some external investors). It is a major challenge for political decision-makers in some countries." href = "https://www.ft.com/content/45ca2229-4043-b709-deda943e9ddb"> told Financial times.
el Salvador has now reacted and criticized the efforts of the currency authority to influence control over the public order of a sovereign nation. Finance Minister Alejandro Zelaya insisted that El Salvador will continue his Bitcoin ambitions.
According to local news agencies, Zelaya explained the "no international organization forces us to do anything" What indicates that the demands of the IMF are an insult to the independence of the country.
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Source: Coinlist.me
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