The Transfer of Global Wealth to Bitcoin - COINTURK NEWS
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The Transfer of Global Wealth to Bitcoin

2:25 pm (21 days ago)
September 6, 2023

Cryptocurrencies continue to tantalize with their long-term potential. Renowned macro expert Lyn Alden expressed the view that Bitcoin (BTC) could potentially claim a much larger share of global wealth than it currently does.

Lyn Alden’s Interview with Peter McCormack

In an interview with popular podcaster Peter McCormack, renowned macro expert Lyn Alden suggested that individuals would want to see a higher percentage of their liquid net wealth in a “self-custodial, globally portable” digital asset.

Alden clarified the extent of her expectations by asking, “What percentage of your net wealth would you want to invest in this asset? I think the reasonable answer is much higher than the current figure, which is a tiny fraction of 1%. But what if the answer is 5% or 10%? Even if Bitcoin becomes an asset that people want to invest only a few percent of their overall liquid net wealth, it would reach incredibly large market values.”

Highlighting Bitcoin’s Striking Rise

Alden argued that Bitcoin can be compared to other currencies and that BTC is ascending the scale in terms of monetary salability, liquidity, and network effects:

It continues to rise in terms of its monetary base compared to other countries. The main idea here, in my opinion, is to think, ‘Okay, is it generally better or worse than these currencies?’ So if your answer is that it’s better, then you should probably expect it to continue to rise.

According to CoinMarketCap data, Bitcoin is trading at $25,744 with a 0.10% increase in the last 24 hours. The largest cryptocurrency, which previously reached a record high of $68,789, is currently priced 62.58% below its peak. Most market experts and analysts believe that Bitcoin will surpass its previous record and even exceed $100,000 by 2024-2025.

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