CoinShares CSO says the current geopolitical situation may kick Bitcoin out from the risky assets category.
In the present time Ukraine vs Russia fight is going on and this war activity between these two countries is influencing almost every money market. In the very starting crypto market faced a huge negative response over the stock market. In the present time, almost every crypto expert is sharing his stances on crypto & Bitcoin.
Meltem Demirors, Chief technology officer at CoinShares, recently appeared in an interview with Bloomberg Technology. In the interview, Meltem told the host about the positive results because of this current critical situation between Ukraine & Russia.
Meltem said that in the current situation there are chances that Bitcoin may get out from the category of risky assets because people are showing a huge inclination toward bitcoin, which never happened in the past.
Besides the Ukraine crisis and increasing sanctions on Russia, She noted that protests in Canada under the Convoy freedom campaign, which faced ban of banking services on the order of the government and further shifted to crypto services, may play a better role for Bitcoin to get a better image.
“Not only do we have this conflict happening in Eastern Europe, but we also recently had the Canadian truckers and their access to the banking system getting cut off, which again was an instance where there was a lot of conversation around Bitcoin (and) cryptocurrency.”
CoinShares CSO also explained that it will be the first time in the history of the world, that people are looking at cryptocurrencies under the high tension of war situations. She noted that such things are educating and spreading awareness among people about cryptocurrencies.
“I think what we’re seeing here is a growing awareness around the world that for the first time, people, citizens who are the victims of wars that are fought by superpowers, have a choice. Bitcoin and cryptocurrencies are non-political global money.”
Meltem also said that crypto trading activities are not only surging because of Ukraine and Russian traders but also people from the US are coming into this industry, to know what is going on actually.
The CSO further noted that it may be a kind of situation where we can conclude that Bitcoin is the initial phase where people are considering it a risk-free asset and in the future, it will get out of the risky asset category.
” potentially, over time becoming a risk-off asset.”
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