Wall Street Crypto King says Bitcoin is Still the best bet for the digital currency investors, as "the use case for bitcoin is valid today, which is the currency of the internet."
11 July, AtoZ Markets – According to Bart Smith, the popular Wall Street crypto entrepreneur, Bitcoin still remains the best bet for cryptocurrency investors. He has spoken about how Bitcoin is used nowadays during one of his recent interviews.
Wall Street Crypto King Says Bitcoin is Still the Best Bet
Mr. Smith is the head of the digital asset at trading giant Susquehanna International Group. During his latest public appearance, he has stated:
"If you want to own the asset that you can actually use today and that people are functionally using, it’s bitcoin. The use case for bitcoin is valid today, which is the currency of the internet.”
Bitcoin is the largest cryptocurrency in terms of the market capitalization. It is also the cryptocurrency pioneer. During the past months, this cryptocurrency along with numerous other altcoins have been undergoing a lot of scrutiny. Global regulatory bodies are attempting to determine how the digital currency should be used.
However, the fact that Bitcoin has some use cases is what provides it with the competitive advantage in comparison to the other cryptos.
Bitcoin Popularity Surge
Earlier last year, the CBOE in the US has announced the Bitcoin futures launch. That time, according to Mr. Smith, "people got very excited about bitcoin.” He has added:
"They got really excited about all these other tokens and use cases. And all of the sudden you saw all of these smaller tokens, as people got excited about them, massively outperform. We got way ahead of ourselves. If you’re looking at these other use cases, smart contracts, or lightning network or these different technological advancements, I think people are coming to realize, those things are very difficult and aren’t coming anytime soon.”
He also has highlighted that a lot of people work in one country and transfer their money to a different country. Mr. Smith explained:
"They use Western Union, traditional banks; It is slow and it is expensive. And there are people that can stop you from sending that money, whether that's good or bad. With bitcoin, I can send money. It's fast. It's cheap. And frankly, no one can stop me."
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