Bitcoin Foundation Founder: Bitcoin Not Bubble Yet Pin to Real One
April 4, 2018
One of the major Bitcoin fans has expressed his confidence in the world’s first cryptocurrency far from being a “bubble”, while central bank bonds and stock markets are, in fact, overvalued.
Over the last months 1 BTC cost has risen up to $20,000 and then dropped to $7,000. Many skeptics contend, bitcoin has already burst and is now undergoing gradual fade-out.
Jon Matonis, founder to Bitcoin Foundation, takes issue with them all:
“To the people who say bitcoin's a bubble, I would say bitcoin is the pin that's going to pop the bubble. The bubble is the insane bond markets and the fake equity markets that are propped up by the central banks. Those are the bubbles».
According to Matonis, mankind has entered a new era with cryptocurrencies playing a pivotal role. The expert also added, despite his stance, he is glad to learn that major banks like Goldman Sachs are considering ways to implement cryptocurrencies.
“I think it's fabulous that they're getting into it because it brings in new liquidity. They're going to develop futures markets, options markets — I even think you're going to start to see interest-rate markets around bitcoin”, he noted.
Matonis has claimed, digital currency market must not be subject to regulation:
"I think we should operate in an environment of caveat emptor: Let the buyer do his research”.
Above all else, the Bitcoin Foundation head has made it a point, risks are indelible part to crypto trading, so anyone worried about it would better to just go away.