Former World Bank Chief Economist Bitcoin and Crypto Will Stay Here But Not Used For Most Payments

Bitcoin and crypto have good resistance, said former World Bank chief economist Lawrence Summers. In an interview with Bloomberg's Wall Street Week, Summers shares his view on the evolving role of cryptocurrency in global markets. Summers points out that investors appreciate the opportunity to invest in assets that have historically seemed separate from the traditional investment route. Summers notes that people have long sought gold as an investment from any central authority. He now predicts that investors will continue to use Bitcoin and other crypto assets in the same way. “Is there a longstanding human desire and desire to keep a property that feels separate and separate from the daily workings of government? As history shows, I think the answer to this question is yes. I think gold has long been the most important asset of this species. And I think crypto has a chance to become an agreed form that people seeking security own their wealth. So I guess the crypto will stay here and possibly remain some form of digital gold, and if you imagine that the non-use value of the crypto becomes half or even a third of its total value, that would be a substantial appreciation. It is from current levels so I think there is a good chance that the crypto will be part of the system for a while longer. "While Summers doesn't think crypto or Bitcoin will become our primary exchange units, they expect crypto assets to play a major role in the internet trading world." But will crypto lead to some kind of libertarian paradise? Are most of our payments made with Bitcoin or another crypto asset? I prefer to doubt that. Will this be a fundamental thing for internet commerce? It can be an important part of the internet business. I would feel like that too. "no rhythm – subscribe to t

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