The bitcoin price it hit new all-time highs and is moving above $ 60,000. We consult experts in Latin America About this cryptomoney to know what perspective they have in the near future, what people will use it for and if what is happening in The Savior it can be a turning point.
Franco MartĂnez, DeFi Researcher at Defiant Wallet commented: “Bitcoin it is still the strongest currency with respect to being used as a safe haven of value. Let us consider that, since the beginning of the pandemic, the United States has printed more than 25% of the total US dollars that exist in the world, only in this short term (and many other central banks have also printed to alleviate the crisis). Much of that turned to cryptocurrencies as a haven of value, which implies being able to take care of purchasing power ”. And he remarked that, for example, inflation in the United States shot up to almost 5.50%, the highest in the last seven years.
“New actors have also entered. Now companies whose objective is to acquire BTC and put it on your balance sheet as an asset, regardless of whether it is for investment or to guard against an eventual rise in inflation (which is what is happening). The first ETF to be able to acquire BTC via the legacy market, therefore every time the demand increases more and more ”, he added.
Thinking about the next ten years, MartĂnez commented that blockchain technology proved to be disruptive.
From Bitwage, the general director for Argentina, Ulises Alzogaray highlighted the strengths of Bitcoin considering that it was the first cryptocurrency, the one that started the current crypto economy, and that it has great symbolic value.
“The market sits on trust, and Bitcoin has earned the trust of many. This trust generates that both individuals and companies adopt it as an investment possibility, which turns out to be a very good way to keep their businesses competitive and healthy ”.
“The perspectives of bitcoin in the future they are good. Considering that Bitcoin is the most reliable monetary structure in the world, the only truly decentralized one, we estimate that people will use Bitcoin as a store of value and as a long-term investment, thus forgetting about central banks or the FIAT currency for that task ”, added.
Regarding the situation of Bitcoin in El Salvador, as legal tender, Alzogaray opined: “It is significant that it happened first in Latin America. For now, it is an experimental case. The initiative to change the entire monetary system to a more decentralized system turns out to be a very good idea. We must closely follow the Salvadoran case and hope that it will be an example for the rest of the countries in the region, most of which suffer from centralized monetary policies and currencies that tend to devalue ”.
From Status, Eduardo Erlo, who works as a marketing manager for LATAM, expressed: “Bitcoin was the first cryptocurrency and it is the most famous. It has very important fundamentals as a store of value, in addition to having a limited supply and a very large number of people adopting. In addition, it is being increasingly adopted by institutional investors as part of their money reserve and even by the stock markets ”.
He then shared his perspective for the next ten years: “We will probably continue to see Bitcoin adoption grow and its price remains very volatile. It will also continue to appear in the media due to resistance from governments and the adoption of new countries. Nobody knows how long it will take to be considered a global currency, but it will certainly continue to be news and people will continue to adopt it more and more as long as they understand its concept and security. “
“Today, people use bitcoin mostly as a store of value due to its strong fundamentals of limited supply and security. In the future, we may start to see that more countries also use it as a local currency to sell and buy things. “
On the other hand, Gaby Genovese, Defi Technology Specialist Research & Innovation Enhancer at IOV Labs, considered that people use Bitcoin for trust, for adoption and because “it is the only scarce and decentralized currency”.
As for El Salvador, he stated: “I think it is a huge step for Latin America especially. A unique opportunity for emerging economies and developing countries. It is the possibility of generating accessibility and mass adoption, and achieving a clear example of what technology ultimately came to solve, which is the impact on the real economy of people ”.
“El Salvador is going to be the example of what we can build on a massive scale in developing countries. With a truly global economy. It will give Latin America independence from the decisions of world powers,” he concluded.
It may interest you: