Summary
- Willy Woo stated that Bitcoin is the perfect asset for the next 1,000 years.
- Currently, Bitcoin's market capitalization is lower than that of gold or the US Dollar supply, and he mentioned the need for further scale growth.
- He evaluated that treasury strategies, large-scale institutional buying, and state interventions such as ETFs and pension funds could potentially have a negative impact on Bitcoin.
There has been a claim that Bitcoin (BTC) is a perfect asset that could endure for the next 1,000 years.
According to cryptocurrency-focused media outlet Cointelegraph on the 11th (Korean time), Willy Woo participated in the Baltic Honeybadger Conference held in Riga, Latvia, stating, "Bitcoin is a perfect asset for the next 1,000 years," and adding, "It only needs capital inflow to replace the US Dollar and gold."
He further added, "To fulfill its role, Bitcoin needs to grow in scale." Currently, Bitcoin's market capitalization is approximately $2.42 trillion. This is considerably lower than that of gold ($23 trillion) or the US Dollar supply ($21.9 trillion).
Meanwhile, Woo identified Bitcoin treasury strategies and large-scale institutional buying as factors that could threaten Bitcoin. He explained, "Since the debt structures of treasury companies are not disclosed, this could lead to a Bitcoin bubble burst and large-scale selling," and evaluated, "Moreover, state-level interventions such as spot ETFs and pension funds are negative for Bitcoin."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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