Questions regarding the definition of bitcoin are always floating around in the financial world. Is it the digital gold, or is it a global digital currency, this is something that is always under discussion in crypto world. As the market is still pretty nascent, nothing concrete can be said at the moment.
BlockPublisher recently got in touch with a private investor of Mehta Ventures Family Office Investments, Hershel Mehta, as he shared his views regarding the world of bitcoin and cryptos. The following Q&A helps one understand the narrative presented forward by Hershel.
- Will bitcoin replace or act as a reserve currency in the future?
Hershel: “Bitcoin is to us today what the barter system was to primitive man. There are many iterations to come before we find a replacement for fiat.”
- Is it the digital gold?
Hershel: “Bitcoin isn’t digital gold. The discovery of bitcoin will enable the creation of it.”
- Should this market be regulated?
Hershel: “Deregulation is at the core of this market. If any regulation is to be undertaken, only non – human entities should do so.”
- What can governments do to curb out the negative elements linked with bitcoin?
Hershel: “Governments shouldn’t. They should instead push for innovation and creation of stablecoins which can act as an intermediary step towards the complete digitization of the economy.”
From the remarks made by Hershel, it can be implied that the world of bitcoin is still its early stages. The future of this space still feels pretty fluid. Nothing concrete can be said with utmost certainty as of now. A lot of developments need to be made before we can answer what is it going to become in the future.
Whenever the price stabilizes, people start saying this is the way bitcoin is supposed to behave and start using it as a source of making payments. On the other end, whenever huge price spikes or plunges are seen, it is assumed that it is more like a store of value. Some even call it the digital gold.
Besides, the market is highly unregulated owing to which, illegal activities and scams have seeped into the world of bitcoin. Owing to this, a general layer of trust between the institutions, public and cryptos has not been established as of yet.
In a nutshell, it would be unfair to predict anything regarding bitcoin just yet. The only thing that seems certain about this world is uncertainty.
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