Despite Bitcoin falling from a record price over the past year, highly respected equity research analyst and investment strategist Lyn Alden says she is bullish on $BTC in the long run.
Alden, who provides stock research and investment strategies for clients, made his comments during a recent interview with Alessio Rastani, where he argued that the overall picture for Bitcoin is bright compared to the last twelve months, in which $BTC fell. more than 60%. of its record price.
Alden said that now is the time to focus on “what is real, what is being built,” with a particular focus on the problems that cryptocurrencies and blockchain solve. He noted that investors should take a holistic view of Bitcoin’s progress, including in developing markets, and the myriad of global problems with monetary systems.
As reported by The Daily Hodl, Alden said:
What’s going on with inflation, what’s going on with authoritarian countries or frozen bank accounts and all kinds of things like that, and what technologies can actually help them?
Alden claimed to be “structurally long-term bullish” on Bitcoin, and that the fundamentals of the crypto asset were positive. The investment strategist focused on Bitcoin development as an indication of fundamentals, saying that the Lightning Network, market adoption development and other on-chain indicators provide a higher value signal than the noise of market volatility. prices.
Alden concluded by saying that there are “different ways” to analyze the crypto market and the outlook for Bitcoin so that investors can get a glimpse of “what’s going on under the hood.”
On July 30, during an interview with Anthony Pompliano, Alden highlighted the “significant” role stablecoins play in the digital currency landscape and their potential for other uses. Alden noted that stablecoins currently serve as the unit of account for “many trading platforms,” including centralized exchanges and decentralized financial markets (DeFi).
As reported by The Daily Hodl, she said:
It is basically a numerical representation of dollars. They are still dollars. I’m not talking about the algorithmic variety, but the real variety guaranteed by fiat. It’s just dollars in this more efficient type of packaging.
Alden also stated that stablecoins play a role in some countries and emerging markets by mitigating the volatility of fiat currencies. He said stablecoins were useful in countries with declining currencies, such as Argentina, and gave people a “medium-term savings” option.
Alden told Pompliano that stablecoins would be increasingly useful in helping to meet global demand for US dollars. He pointed out that stablecoins provide technology for people around the world to obtain dollars, regardless of banking networks and the availability offered by their government.
He pointed to Lightning Labs’ Taro protocol, which enables low-cost transfer of dollars using the Bitcoin network, as a potential advantage for stablecoins:
That’s why I also think there are some great things like Taro in lighting that could bring stablecoins to bitcoin and it just becomes the most efficient network to process those dollars because it’s less about pure decentralization and more about what you can give people access to cheap capacity. to access this foreign hub of dollars.
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