Bitcoin polarizes: revolutionary value residues or risky speculation object? In any case, Bitcoin is not one thing: art-says a crypto expert.
Hardly any financial issue polarizes as much as Bitcoin: some see it in it the future of financial system, others consider it a pure speculation object. Johanna Belitz, crypto expert and financial strategy at the crypto ETP provider Valour, explains exclusively in conversation with T-Online why she thinks Bitcoin is a revolution, which differentiates him from gold and whether governments soon rely on digital value storage.
T-online: Bitcoin is only a speculative object, in addition to scientists, also say some investors. What do you counter critics who say that?
Johanna Belitz: Bitcoin is often misunderstood. Of course there are speculative elements, but this applies to almost every financial instrument. Shares, real estate, gold – all of this is subject to market fluctuations. The decisive difference is: Bitcoin is decentralized, transparent and its offer is limited to 21 million coins. No central bank can reprint it, no government control it. It is precisely this mathematical scarcity that makes it a unique value memory that stands out from traditional financial markets.
Valour Inc., a subsidiary of Defi Technologies Inc., was founded in 2019 and has its headquarters in Toronto, Canada. The company emits listed products (ETPS) that enable private and institutional investors access to digital assets such as Bitcoin. Valour is waded by a fortune of around 1.07 billion CAD ($ 750 million).
Could you say that a Bitcoin will soon be something like a painting by Picasso, at least as far as the value is concerned? Picasso’s drawing “Femme et Jeune Garçon Nus” was said to be sold at Christie’s for around 2.5 million euros.
The comparison with art hooks tremendously. Bitcoin is much more than a rare collector’s item – it stands for a revolution in the areas of money, digital property and financial accessibility.
A painting by Picasso is at least tangible and delights its owner when it decorated the wall in the house.
A painting is a static collector’s item, the value of which is subjective. Bitcoin, on the other hand, is a lively, constantly developing network that works as a means of payment and as a value memory. It is also globally tradable, transferable in seconds and is safely verified by the blockchain. Works of art can be stolen or decay – Bitcoin, on the other hand, is immune to physical risks due to its digital nature.
What happens if there is a global power failure? In contrast to a painting, Bitcoin needs electricity.
This question often appears. A massive power failure would not only hit Bitcoin, but the entire financial system. Banks, ATMs, card payments – everything would be affected. However, Bitcoin is more resistant than many think: there are decentralized nodes (Note d. Red.: Network nodes) worldwide, transactions can be sent via satellites and alternative networks. If there is really a global blackout, financial systems would be our smallest problem. Then we would talk about exchange trading, not about Bitcoin.
Critics say that Bitcoin is influenced by a few major investors by investing millions of dollars and emptying the market. Can Bitcoin be controlled better?
The idea that a small group controls Bitcoin is an error. The largest Bitcoin owner, Satoshi Nakamoto, has not moved coins for over a decade. In addition, many of the largest wallets belong to institutional storage, funds or stock exchanges – not individuals who could control the market.
Of course, celebrities like Elon Musk or Michael Saylor influence the market mood, but they do not control the network. In contrast to Fiat currencies that can be controlled by central banks, Bitcoin is based on solid mathematical rules that nobody can change-no single person, no company and no government of this world.
In other words: How can Bitcoin be fair if a few have many and many none at all?
Do you want to indicate that Bitcoin should be redistributed? Satoshi Nakamoto has not designed Bitcoin with the idea of forced equal distribution. Bitcoin is free of approval and open to everyone, without discrimination according to assets, nationality or status. Everyone could and can mine Bitcoin or buy – without state distribution or central control.
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The ownership of the ownership reflects who recognized and accumulated the value early. While traditional financial systems are controlled by central banks, Bitcoin follows fixed, transparent rules. Although no monetary system can create absolute equality, Bitcoin offers the same starting conditions: nobody has special rights, nobody can print, and nobody can change the rules to their advantage.
