Strategist at Southeast Asia’s Largest Bank DBS Says Bitcoin is exclusive in spite of Price

An investment strategian at Southeast Asia’s largest bank, DBS, says bitcoin is exclusive whether or not the price changes or not. “If we have a tendency to simply look strictly on a value basis, you’ll see plenty of volatility which doesn’t inform you plenty concerning what advantages it truly brings,” the DBS strategian emphasised.

You might also like

Bitcoin Price Heading Back Towards $24,000 – Did Wednesday’s Liquidity Grab Give It The Boost It Needed?

February 2, 2023

HSBC is looking for a top executive to work with asset tokenization

February 2, 2023

DBS strategist on Bitcoin’s uniqueness

DBS investment strategian Daryl HO talked about bitcoin in a very recent media making known, Finews Asia reported Friday. He explained, “If we have a tendency to simply look strictly on a value basis, you’ll see plenty of volatility which doesn’t inform you plenty concerning what advantages it truly brings,” elaborating:

“I think bitcoin is still unique whether the price  changes or not.”

Ho proceeded to denote that bitcoin’s individualism isn’t driven by its value, but rather its utility that permits price transfers in a very suburbanized manner while not requiring a central counterparty to clear the trade, the publication conveyed.

“Most of the methods by which you trade assets need a central clearing party to verify the trade,” HO careful, adding that bitcoin presents a chance that folding money doesn’t supply. “Because financial systems  are still ruled by central banks,” the strategian stressed, noting that bitcoin’s 13-year data boosts confidence within the cryptocurrency.

“If you were holding onto bound rationed assets at the beginning of February, you {will} not are ready to liquidate them at will as a result of generally, exchanges were closed,” he continued , emphasizing:

But the bitcoin market was open 24/7. Thus there was an avenue for you to boost money and liquidity, if necessary. Before bitcoin, there has ne’er been any avenue that might do that.

DBS launched a digital asset exchange in December 2020. The platform supports the commercialism of 4 cryptocurrencies: bitcoin, bitcoin money, ether, and XRP. In August, the bank disclosed that the trading volume on its digital quality exchange soared, noting that “Investors who believe the long-run prospects of digital assets are gravitating towards sure and controlled platforms to access the digital asset market.” Last month, DBS unrolled independent crypto commercialism via its Digibank app.

Piyush Gupta, the CEO of DBS Bank cluster, affirmed in March that he doesn’t suppose cryptocurrency can become cash, however explicitly that “it is an alternative to gold and its price.” The bank additionally recently entered the metaverse by partnering with The Sandbox.

The post Strategist at Southeast Asia’s Largest Bank DBS Says Bitcoin is exclusive in spite of Price first appeared on BTC Wires.

Credit: Source link