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Standard Chartered Sees Buying Opportunity as Bitcoin Faces Geopolitical Pressure
Summary: Despite warning of potential downward pressure on Bitcoin prices due to escalating geopolitical tensions, Standard Chartered has suggested that investors may find attractive buying opportunities. While the digital asset has often been touted as a safe-haven asset, the bank's global head of digital asset research, Geoff Kendrick, argued that Bitcoin is more effective at hedging ...
Despite warning of potential downward pressure on Bitcoin prices due to escalating geopolitical tensions, Standard Chartered has suggested that investors may find attractive buying opportunities.
While the digital asset has often been touted as a safe-haven asset, the bank's global head of digital asset research, Geoff Kendrick, argued that Bitcoin is more effective at hedging against traditional finance (TradFi) risks such as bank failures or a decline in the US dollar. "Gold is a geopolitical hedge... BTC can hedge against TradFi issues like bank failures or de-dollarization/US Treasury issues," Kendrick said.
Tags: Bitcoin,Standard Chartered Bank
Link: Standard Chartered Sees Buying Opportunity as Bitcoin Faces Geopolitical Pressure [Copy]
