Bitcoin came into the financial scene when the world was witnessing a crash in the traditional financial market. As people started to look out for possible alternatives to the governmentally-controlled currencies, cryptocurrencies erupted out. An appearance made at a very crucial time. More than a decade has now gotten past and a lot of developments have been made in this world. While some believe that the prospects offered by bitcoin are game-changing, others are of the view that cryptocurrencies will die out soon.
In order to get a better perspective of this asset from someone who is actually involved in the crypto world, BlockPublisher recently got in touch with the co-founder and general partner of Morgan Creek Digital, a well-renowned name in the crypto world, Jason Anthony Williams.
Talking about his personal opinions regarding bitcoin and whether should one expect it to become a global digital currency, he said:
Jason: “I’m challenged often about use cases around cryptocurrency and different cryptographic technologies and I keep saying to people listen, bitcoin’s use case as a currency is the most important one. I think bitcoin intends to be some sort of store of value. Once it starts to flatten out a bit, and not draw down so dramatically, and have these incredible appreciation moments, I think it’ll play more in that space.”
Jason then pointed out that Dennis Gartman who writes the Gartman Letter, a commodities trading newsletter, recently listed bitcoin with all the global currencies for one of the very first times. He said:
Jason: “These guys are starting to pick up on the fact that bitcoin is real, it’s going to have a huge significance in 2nd and 3rd world countries specifically those dealing with hyperinflation. You can see the fear that a lot of the governments have in regards to its ability to be a portable opportunity for people to move their wealth away from their fiat currency into a new store of value. So, I don’t want to ramble on about it, I think it’s real, bitcoin is real and the use case around its financial application is probably a very strong use case.”
Upon questioning whether bitcoin will become the gold of the future or the new U.S. dollar, Jason suggested that it will become more like an alternative to these.
Jason: “I don’t think it’s gonna replace gold or the US dollar. I think it will be an alternative vehicle and potentially a new reserve currency. That’s interesting to me.
Right now I run a start-up, it’s an oil refinery and that oil refinery uses waste products to recover the oil. I take old tires and put them through a thermal demanufacturing process and recover commodities in the form of syngas, oil, steel, and solid carbon.
So, I’m following the oil markets pretty closely and as you know, a new benchmark to pricing oil globally would be really interesting.”