Quantum Fintech Group’s founder and managing director, Harry Yeh, suggests that the devaluation of the U.S. dollar is behind the surge in Bitcoin’s value.
Yeh maintained that the current Federal Reserve policies are fueling Bitcoin. According to Yeh, releasing money into the economic system makes Bitcoin an alternative.
He maintained that crypto is already taking an important role in institutional and retail investors’ portfolios. Yeh also said that investors should focus on assets that can occupy a portfolio instead of being pessimistic about a potential collapse.
The recent inflation provides the ideal ground for engaging in the cryptocurrency sector since assets such as Bitcoin serve as a formidable cushion, according to Yeh. He said:
“It’s not a question of whether or not cryptocurrencies are here to say it’s, what is your blockchain and cryptocurrency strategy. Bitcoin and other cryptocurrencies are used as a hedge against inflation right now. The more money printing that happens, the more the value of Bitcoin and all of these things tend to rise, but I think of it as an inverse. I don’t think that Bitcoin’s going up in value, it’s just the dollars worthless.”
Yeh further explained that involving in cryptocurrency is much easier since investors can buy their preferred assets with any amount, unlike the stock market. He then predicted that the recent tapering would work in favor of Bitcoin.
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Wilson is a successful crypto analyst and content writer with many years of writing experience in finance and blockchain fields. His interests are in crypto-asset research and technical analysis, Fintech, Blockchain, DeFi, NFTs, and Personal Finance.