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COINTURK NEWS > Bitcoin News > Bitcoin Continues to Offer Opportunities and Risks in the Crypto World
Bitcoin News

Bitcoin Continues to Offer Opportunities and Risks in the Crypto World

In Brief

  • Bitcoin's rise offers both opportunities and risks in the crypto world.

  • Companies' profitability despite Bitcoin's high value is questioned by Mognetti.

  • Political implications of cryptocurrencies could become a political tool in the US.

COINTURK NEWS
COINTURK NEWS 9 months ago
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Bitcoin‘s fascinating rise continues to offer both opportunities and risks in the crypto world. CoinShares CEO Jean-Marie Mognetti issued serious warnings about the future of companies that failed to make a profit when Bitcoin reached $60,000. Mognetti points out that many companies in the crypto asset management sector are fueled by venture capital funds and are spending money without profitability.

Contents
Is It Time for Bitcoin to Be Profitable?Seeking Balance Between Politics and CryptocurrenciesBitcoin’s Rise as a Hyper-Macro Asset

Is It Time for Bitcoin to Be Profitable?

One of the most important points Mognetti emphasizes is the question of when companies that are not profitable despite Bitcoin’s high value will make a profit. This criticism gains even more significance with the transformations in the field of cryptocurrency mining.

After China banned mining, the sector experienced a major shift, and miners relocated to new locations worldwide. Today, major players in this field operate in modern and secure facilities, which is an indicator of the sector’s maturation.

Seeking Balance Between Politics and Cryptocurrencies

The political implications of the crypto world were also on Mognetti’s agenda. With the increasing interest of US politicians in cryptocurrencies, there is a danger of this issue becoming a political tool.

Mognetti argues that it would be dangerous for cryptocurrencies to be identified with any political party and that both parties should adopt a common stance on this issue. He predicts that regulations regarding cryptocurrencies in the US will come by 2025 and that this process could accelerate under a Republican administration.

Bitcoin’s Rise as a Hyper-Macro Asset

The acceptance of Bitcoin has started to find a place not only among individual investors but also in the balance sheets of large companies. This trend brings up the use of Bitcoin as a treasury reserve asset.

Mognetti describes Bitcoin as a “hyper-macro asset,” stating that Bitcoin has become an attractive store of value, especially against the depreciation of the dollar. He emphasizes that the rise in the prices of assets like real estate is actually due to the depreciation of the dollar, which is why Bitcoin is preferred as a safer haven.

Jean-Marie Mognetti’s assessments of the crypto world serve as an important warning for companies in the sector. The sustainability of companies that fail to make a profit even when Bitcoin is at a high level of $60,000 is being questioned.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 14 August, 2024 - 10:09 am 14 August, 2024 - 10:09 am
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