Bitcoin could be Named 'Digital Gold' if Unpredictability Decreases and Regulators Move in, says Bridgewater Exec.
Bitcoin Enthusiast – Luke
Bridgewater's investment analyst, Rebecca Patterson, suggested Bitcoin might become ‘Digital Gold’ if the cryptocurrency's volatility decreases, and its liquidity increases with "regulatory certainty."
Patterson's words come from an interview with Bloomberg, first mentioned by Business Insider. During the interview, Patterson stated that she will not deem Bitcoin an "alternative currency" and suggested instead that the flagship Blockchain will be best compared to gold as a store of value.
She stated that she thinks the Cryptocurrency can become ‘Digital Gold’ implying that buying Bitcoin could be worth investing in. But she goes on to say that it can only become ‘Digital Gold’ once issues dealing with its volatility, stability, and regulatory status have been addressed. Patterson points out that, as financial investors, they can't tell with certainty that a Bitcoin investment is going to be worth ‘Digital Gold’.
The hallmark Cryptocurrency has appealed to traders as a hedge against fiat currency inflation, as shareholders watch Crypto while thinking about fiat currencies dropping their value with "all this central bank printing." To get Bridgewater investing in cryptocurrencies and to buy Bitcoin, she wrote, a few items will have to be changed.
According to the executive, Bridgewater would like to see its volatility decline as Bitcoin can jump 10% on a tweet for now, which is not necessarily a great store of value for most retail investors. “In addition, the company would like to see better liquidity, which it claims could come from regulatory certainty."
It's worth noting that most observers think regulators may interfere with the growth of Bitcoin. This month, Secretary of the Treasury Janet Yellen said that Bitcoin is “an extremely inefficient" way to execute monetary transfer.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
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