As traditional financial institutions continue to struggle amid the ongoing global financial turmoil, cryptocurrency experts are seeing a unique opportunity for growth in the industry.
According to Chris Burniske, a partner at Place Holder and former crypto head of Ark Invest, the pressure that the US government is putting on the crypto industry will backfire, leading to an even stronger market for cryptocurrencies.
Burniske believes that now is the perfect time to invest in Bitcoin and Ethereum, pointing out that Bitcoin was designed for moments of economic uncertainty. He’s not alone in his optimism, as Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, has also recently voiced his belief that the banking crisis will be a catalyst for the crypto bull run.
McGlone pointed out that Bitcoin was born out of the last financial crisis in 2008-09 and has been performing well, bouncing above the $25,000 resistance level. He went on to describe Bitcoin as becoming more like gold and US Treasury Bonds, but in a higher beta version.
Author and financial expert Robert Kiyosaki also sees cryptocurrencies as a great buying opportunity, revealing that he has been investing in Bitcoin and Ethereum since they were much cheaper. Kiyosaki advocates for buying assets that hold value, such as gold, silver, and cryptocurrencies, rather than saving in dollars.
Overall, these financial experts suggest that now is a good time to invest in cryptocurrencies. Despite the US government’s pressure on the crypto industry, the market has shown resilience and continues to be a safe haven for investors during times of financial turmoil. As the global economic crisis continues to unfold, it will be interesting to see how the crypto market evolves and whether it will continue to be a safe haven for investors.
