American billionaire doesn’t understand Bitcoin, but not against its prospects

CEO of investment firm Blackstone Steve Schwarzman “inadvertently” advertised Bitcoin recently, he said that cryptocurrency could be a good tool to evade control by the state. About it, whom to debate during a recent interview with journalists information portal Fortune.

Meanwhile, the stock market started red days — in the color of candlesticks on charts. Today Bitcoin is trading at 9890 dollars. The coin fell below $ 10 thousand today in the early morning.

Bitcoin is necessary for all

Status of Steven Schwartzman is estimated at 7.7 billion dollars. He is head of the Blackstone Group, which is seeking and investing in alternative asset classes. No wonder he opposes Bitcoin to traditional currencies.

There are reasons why States want to control the money. Partly to minimize the likelihood of a new economic crisis. Partly to monitor the activity of financial swindlers.

The Director General also stated that bitcoins are not owned, although his company and invests in traditional assets. By the way, it was asked whether Blackstone to invest in cryptocurrencies.

Here is a simple answer: no.

The investment giant is not against the idea of the existence of cryptocurrencies and has even acknowledged their ability to undermine the state.

If they can solve this problem and the problem of controlling the money supply, it could work.

But there are downsides: Steve Schwartzman does not understand Bitcoin, and even considered the concept of a decentralized issue coins “strange”.

In General, however, negative in Bitcoin address has not sounded. With this in mind, comments world-renowned investor can even be considered a good is cryptocurrency.

With Shvartsman would disagree economist Sayfiddin Ammos. In his book the Bitcoin Standard, he said that Bitcoin supposedly fully complies with all the criteria of a reliable currency. In other words, its issuance is predictable, the third party may not intervene in the process of production of new BTC.

Source: Reddit

For the average investor disputes about the "true purpose" of Bitcoin is unlikely to be interesting. It is more interested in the profitability of the asset, and this cryptocurrency is all right. To date, BTC has remained almost the most profitable investment in the history of mankind. Early investors, Bitcoin has brought huge number of x's in just a few years. This is unlikely to ever be seen in the field of traditional Finance.

In addition, Bitcoin is perfect for the role of “digital gold”. With its help it is easy to accumulate capital in the long term. With the use of cryptocurrency is much easier than to dispose of a dozen gold bars. By the way, in comparison with precious metal the easiest way to determine the real value of BTC.

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