Bitcoin is unique regardless of what price it is at, says an investment expert at DBS, the biggest bank in Southeast Asia. The DBS strategist underlined that if we simply look on a pricing basis, we will notice a lot of volatility, and it doesn’t teach you very much about what benefits it truly delivers.
DBS ban strategist on Bitcoin
In a recent media briefing, DBS investment strategist Daryl Ho discussed bitcoin on Friday. He elaborated that if we just focus on the price, then the benefits of the asset and its offerings get foreshadowed. It’s like always focusing on the price of Amazon’s shares rather than what the company offers.
Daryl continued by pointing out that the usefulness of bitcoin, which enables decentralized value transfers without the requirement for a central counterparty to clear the deal, rather than its price is what makes it unique, according to the website.
He further explained that the majority of ways for exchanging assets need a central clearing house to authenticate the transaction and that bitcoin offers a chance that fiat money does not. The expert emphasized that fiat monetary systems are still under the control of central banks, adding that bitcoin’s 13-year track record adds to investor trust in the cryptocurrency.
Ho says that many exchanges were occasionally stopped, so if you were hanging onto certain rationed assets at the beginning of February, you might not have been able to sell them at will. But for Bitcoin, the market is open 24/7, which allows you to trade anytime. This was never possible before.
About DBS bank
DBS Bank Limited, sometimes referred to as DBS, is a worldwide banking and financial services company with its headquarters in Singapore’s Marina Bay neighborhood. The Development Bank of Singapore Limited, from which “DBS” was formed, was the bank’s prior name before its current shortened name was adopted on July 21, 2003, to represent its status as a worldwide bank better. Along with OCBC Bank and United Overseas Bank, it is one of Singapore’s “Big Three” banks (UOB).
What are your thoughts as a DBS strategist says that Bitcoin is unique regardless of price? And do you think we are focusing too much on Bitcoin’s price rather than its real-world value? Let us know in the comment below. And, if you found our content informative, share it with your family and friends.
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