Strategist at Southeast Asia’s Largest Bank DBS Says Bitcoin Is Unique Regardless of Price

An concern strategist astatine Southeast Asia’s largest bank, DBS, says bitcoin is unsocial whether the terms changes oregon not. “If we conscionable look purely connected a terms basis, you volition spot a batch of volatility and that doesn’t pass you a batch astir what benefits it really brings,” the DBS strategist emphasized.

DBS Strategist connected Bitcoin’s Uniqueness

DBS concern strategist Daryl Ho talked astir bitcoin successful a caller media briefing, Finews Asia reported Friday. He explained, “If we conscionable look purely connected a terms basis, you volition spot a batch of volatility and that doesn’t pass you a batch astir what benefits it really brings,” elaborating:

I deliberation bitcoin is inactive unsocial whether the terms changes oregon not.

Ho proceeded to constituent retired that bitcoin’s uniqueness is not driven by its terms but alternatively its inferior that allows worth transfers successful a decentralized mode without the request for a cardinal counterparty to wide the trade, the work conveyed.

“Most of the methods by which you commercialized assets necessitate a cardinal clearing enactment to verify the trade,” Ho detailed, adding that bitcoin presents an accidental that fiat wealth does not offer. “Because fiat monetary systems are inactive governed by cardinal banks,” the strategist stressed, noting that bitcoin’s 13-year way grounds further boosts assurance successful the cryptocurrency.

“If you were holding onto definite rationed assets astatine the commencement of February, you whitethorn not person been capable to liquidate them astatine volition due to the fact that sometimes, exchanges were closed,” helium continued, emphasizing:

But the bitcoin marketplace was unfastened 24/7. So determination was an avenue for you to rise currency and liquidity, if necessary. Before bitcoin, determination has ne'er been immoderate avenue that could bash this.

DBS launched a integer plus speech successful December 2020. The level supports the trading of 4 cryptocurrencies: bitcoin, bitcoin cash, ether, and XRP. In August, the slope revealed that the trading measurement connected its integer plus speech soared, noting that “Investors who judge successful the semipermanent prospects of integer assets are gravitating towards trusted and regulated platforms to entree the integer plus market.” Last month, DBS rolled retired self-directed crypto trading via its Digibank app.

Piyush Gupta, the CEO of DBS Bank Group, said successful March that helium does not deliberation cryptocurrency volition go wealth but stated that “it tin beryllium an alternate to golden and its value.” The slope besides precocious entered the metaverse by partnering with The Sandbox.

What bash you deliberation astir the DBS concern strategist’s comments astir bitcoin? Let america cognize successful the comments conception below.

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