Litecoin Foundation Co-founder Believes Bitcoin Is Destined To Go Up And Up

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • In the current year, Bitcoin has outperformed many significant assets and is one of the top bets of 2020.
  • The Litecoin foundation co-founder, Xinxi Wang in his latest tweet notified though it is uncertain to speak about the economy, BTC is intended to go higher.
  • Additionally, he said it will be beneficial to the society if the king coin replaces fiat currency.

In the current year, Bitcoin has outperformed many significant assets and is one of the top bets of 2020. So far this year, the price of BTC uptick over 30% after facing the massive drop of March 12.

Bitcoin over economic turmoil

However, as per the advocates, the investors must cation while trading in Bitcoin, at the time when the cryptocurrency is on higher priority ahead of traditional assets.

Moreover, in this mob mentality, some significant speculators impel investors to go-ahead for Bitcoin despite traditional assets such as equity or gold.

The Litecoin foundation co-founder, Xinxi Wang in his latest tweet notified though it is uncertain to speak about the economy, Bitcoin price is intended to go higher.

Today, Wang moved to Twitter and shared its opinion in a questioner way to know what investors think about his perception.

If bitcoin (BTC) replaces fiat currency

Looking at the global economic turmoil due to coronavirus pandemic, the founder stated that once Bitcoin replaces the fiat currencies of all the countries, the world will become better for him, for those who hold BTC, and for those who do not.

Additionally, he said it will be beneficial to the society if the king coin replaces fiat currency. It seems that Wang prefers Bitcoin will be a safe haven during the pandemic situation. He also finds BTC as a better investment than fiat currency.

BTC standard over Gold

Furthermore, Wang added the standard of gold is better than fiat however, Bitcoin is better than the standard of gold.

Seeking answers from the users, he shared that Fiat helps with GDP growth by improving living standards.

Also, he added once most countries in the world replace fiat with BTC, countries that don’t have much BTC won’t do well but still should stop using fiat.

Hence, once BTC replaces fiat currency, there will be less inequality.

With several views about BTC and fiat, the veteran speculator is looking for users’ opinions for the future of Bitcoin.

Recently, the Litecoin co-founder opined about the blockchain dollar, Tether, and compared it with a time bomb.

We Recomaned

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners