Strive CEO Says Bitcoin Bulls Still Underestimate Impact of Prolonged Dollar Weakness
JH Kim
Summary
- Matt Cole, Strive CEO, said US dollar weakness could persist for a prolonged period.
- He said the US Dollar Index (DXY) could remain in a downtrend for the next three to seven years, and that in that case the next five to seven years could become the most favorable macroeconomic environment in Bitcoin's history.
- He added that investors are not sufficiently bullish on Bitcoin (BTC) and that the dollar's long-term weakness could work in Bitcoin's favor.
Forecast Trend Report by Period
Matt Cole, chief executive officer of Strive, said investors are not bullish enough on Bitcoin as the US dollar may remain weak for an extended period.
Cointelegraph reported on Aug. 19 that Cole sees the US Dollar Index, or DXY, continuing to decline over the next three to seven years. If that happens, the next five to seven years could be the most favorable macroeconomic backdrop in Bitcoin's history.
Cole added that investors remain insufficiently optimistic about Bitcoin and that a prolonged period of dollar weakness could help drive gains in the cryptocurrency.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.