Never before has the potential power of bitcoin (BTC) been more apparent. The chief strategy officer (CSO) of crypto investment firm CoinShares, Meltem Demirors, therefore thinks that the current geopolitical situation will allow bitcoin to shake off its image as a risky investment. So said Demirors in a recent interview with Bloomberg Technology.
War and protests, bitcoin the solution?
In the interview, Demirors cites a number of major events that expose the power of bitcoin. First, we had the large-scale protests of truck drivers in Canada, and now we have the war in Ukraine. Of course, these two events are not comparable in scale. However, they do both expose a problem:
"Not only do we have this conflict in Eastern Europe, but we also recently saw the Canadian truckers who were cut off from access to the banking system, which was another instance where there was a lot of talk about Bitcoin."
Increasing awareness of Bitcoin's potential
Bitcoin offers a possible way out for the average Ukrainian and Russian to escape the misery created by the conflict. In the process, bitcoin is an apolitical form of money that is censorship-resistant.
"I think what we're seeing here is a growing awareness around the world that people, citizens who are really victims of wars fought by superpowers, for the first time have a choice."
Demirors adds, "Perhaps this is the beginning of Bitcoin no longer being a 'risk-on' asset, but possibly over time becoming a 'risk-off' asset." However, it is now too early to actually make that judgment, Demirors argues.
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