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‘Bitcoin is the king of crypto and it’s here to stay’ says eToro CEO

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The CEO of the eToro trading platform, Yoni Assia, sees Bitcoin as the “king of cryptocurrencies” and believes that digital assets are the future. In addition, he believes that over the next three or five years, we will see a significant rise in the value of Bitcoin.

Many analysts agree with him. In their opinion, Bitcoin will continue to lead the cryptocurrency market and will not give up its position. Bitcoin is the king of the cryptocurrency world. It is the most reliable and reputable coin. Therefore, it is in demand among smart traders and investors, experts write. In addition, altcoins are highly dependent on BTC, which can be used as an index for the entire digital money market. Therefore, when the value of a cryptocurrency declines, altcoins follow. And, according to analysts, at the moment there is no fundamental reason to change the situation.

It’s important to remember that alternatives to Bitcoin have been offered since 2011. But none of them even came close to replacing Bitcoin in terms of price, use, or reliability. In addition, Bitcoin has the largest network, and its practical value is growing simply because it has the most users.

The future of decentralized digital assets

EToro Managing Director Guy Hirsch supports his colleague’s point. But he noted that people have yet to believe in the social qualities of decentralized money.

Assia revealed that eToro is working towards a future where people around the world will use decentralized digital assets. To do this, the platform is trying to combine the traditional finance and cryptocurrency industry. EToro users can trade both cryptocurrencies and stocks.

EToro’s CEO expects up to $ 100 trillion to be transferred to the digital currency ecosystem over the next 10 years. In the future, almost all financial assets will be on blockchains, because this provides many benefits.

Already at this stage, many investors are choosing Bitcoin as an alternative to volatile stock markets.

The 2020 crisis gave investors many reasons to change their attitude towards cryptocurrency. Investors began to transfer capital into digital money. This is what the billionaire and founder of the hedge fund Tudor Investment Paul Tudor Jones did. Investing 1% of his assets, or about $ 50 million, in BTC. Then the Canadian restaurant chain Tahini’s converted all its cash reserves into coin. And MicroStrategy, which produces analytical software, spent over $ 2 billion on the first cryptocurrency.

Bitcoin vs gold

Bitcoin often compared to the precious metal. For example, Bloomberg analysts said that cryptocurrency is no longer a speculative asset and is becoming a digital version of gold. One of the reasons why these instruments pitted against each other is their limited emission. Gold reserves limited by nature, Bitcoin – by software code that makes it impossible to issue more than 21 million coins.

In addition to the limited emission, both assets decentralized, difficult to counterfeit, and easy to recognize. However, there are several advantages to cryptocurrency.

Bitcoin is much more convenient to use as a means of payment: within a couple of seconds, you can send Bitcoin to the other end of the planet and track the transaction. In addition, we are already seeing that many institutions are beginning to look closely at Bitcoin as a defensive asset.

Although there are completely opposite opinions, for example, earlier economists Nouriel Rubini and Nassim Taleb made a statement that blockchain is an excellent technology, and cryptocurrencies not needed and don’t have any advantages.

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