There are many people who have compared Bitcoin to digital gold. Another person to join the group is the CEO of Bitstamp Bobby Zagotta. He heads the crypto exchange branch operating in the United States. He further explained that in the near future the Bitcoin will start trading like the physical gold. It is worth noting that gold is a trade commodity that even the unbanked masses can buy and sale and use as a hedge against inflation.
Speaking on the matter, Zagotta claimed that at present many cryptocurrency traders are working on minimizing their trade risks by switching to stablecoins markets. He further claimed that with the increase of popularity of private cryptocurrencies, Bitcoin will acquire the status of digital gold among masses.
Bitcoin has not Reached its Full Potential Yet
Zagotta was speaking to the journalist at CNBC when he claimed that Bitcoin will eventually become as popular as gold in terms of investment. He further explained that at present the top coin has still not seeped into the international markets yet. He also claimed that the economic factors like Ukraine war and COVID-19 pandemic has started to impose people to seek positions in less volatile assets rather that digital assets.
Talking about the EO issued by White House on cryptocurrency regulations he claimed that it is essential that the US government recognizes the cryptocurrencies as an opportune and viable industry. He further claimed regulatory framework is a positive step towards greater integration of the digital assets into the traditional financial infrastructure.
Bitstamp is arguably one of the largest cryptocurrency exchange platforms operating in Europe. The exchange market proceeded to integrate Shiba Inu token last year by refrained from working with Dogecoin. CEO of Bitstamp USA claimed that the current steps taken by Biden Administration for cryptocurrency regulations are positive.
He further explained that the government not only plans to make the financial environment highly conducive and inclusive but also plans to make the country a global leader in this regard. It is worth mentioning that Bitstamp also introduced stock trading options for the consumers in the region. The crypto company has also signed a contract with esports enterprise recently.