- The significant crypto enthusiast and investor Meltem Demirors recently shared her opinions on the future of Bitcoin.
- She believes that the current geopolitical tensions are bringing a change for the asset class and move away from the risk-on category of investments.
- Worldwide investors are now looking for Bitcoin and other cryptocurrencies as a response to the geopolitical crisis.
CoinShares Chief Strategy Officer (CSO), Meltem Demirors, has recently highlighted her views on Bitcoin and the effects of Geopolitical events on the crypto assets.
Demirors is a Veteran Crypto investor and enthusiast and says that the current Geopolitical events might facilitate Bitcoin (BTC) to emerge as a store of value asset. She further said that the worldwide sanctions post Russia’s invasion of Ukraine, and truckers losing banking access in Canada during a protest against the government, could help Bitcoin to move away from the risk category of investments.
How can Bitcoin drift away from the risky investments category?
The CoinShares CSO said that not only are we witnessing the conflicts happening in Eastern Europe, but we recently also saw the Canadian truckers and their access to the banking systems getting cut off, which was another instance where there was a quite lot of conversion and discussion about Bitcoin and the asset class. And that she thinks what we’re witnessing is a growing awareness around the world that for the first time people and citizens who are actually victims of wars that are fought via superpowers have a choice. And that Bitcoin and other cryptocurrencies are non-political global money.
She further signified that the increased use of crypto assets beyond the eastern European conflict zone symbolizes that the investors on a global level are looking for digital assets as a response to the geopolitical crisis.
We’re seeing an increase in trade activity not only in Ukraine and Russia but also a lot of it is coming from the US. And maybe this is the first step of Bitcoin no longer being under the skepticism of a risk asset, and potentially becoming a risk-off asset over time.
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Demirors further said concluding that whether Bitcoin has emerged and matured as an asset or not, will be accurately determined in a longer time frame. And that a couple of weeks is not enough to determine it, but she thinks that the future months and years would provide us with more data that could tell.
It is indeed true that cryptocurrencies have a major role to play in the current war ongoing between Russia and Ukraine as the latter country has been receiving massive donations via the asset class. And as access to traditional finance systems becomes a bit tough for the citizens in the war situation, it’s cryptocurrencies that are highly facilitating them. Although skepticism has always hovered around the asset class, it has made a significant position in the finance world over time. And it is to look forward to what Bitcoin and other cryptocurrencies will witness in the future.
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