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Increase in Bitcoin due to Macroeconomic Turmoil States CEO of Circle
Summary: Jeremy Allaire, CEO of Circle, believes that Bitcoin's recent growth is due to the macroeconomic turmoil. In an interview on August 5, 2019, with CNBC, Allaire indicated that Bitcoin seems to have become the center of asylum or safe haven for storing wealth during geopolitical and macroeconomic turmoil. Allaire points out the correlation between the devaluation of Yuan and ...
Jeremy Allaire, CEO of Circle, believes that Bitcoin's recent growth is due to the macroeconomic turmoil. In an interview on August 5, 2019, with CNBC, Allaire indicated that Bitcoin seems to have become the center of asylum or safe haven for storing wealth during geopolitical and macroeconomic turmoil. Allaire points out the correlation between the devaluation of Yuan and the recent growth of the coin, "You can very clearly see some macro correlation there. I think the broader theme of, you know, Bitcoin specifically, crypto more broadly participating in these global macro forces is becoming more and more clear. Rising nationalism, rising amounts of currency conflict, trade wars, these all obviously are supportive of a non-sovereign, highly secure digital store of value."
Author: Sofia Cabrera
Tags: Bitcoin,China,Circle,CNBC,Jeremy Allaire,Yuan
Link: Increase in Bitcoin due to Macroeconomic Turmoil States CEO of Circle [Copy]
