Macro strategist Lyn Alden says it could be possible for leading digital asset Bitcoin (BTC) to support the planet’s population.
In a new What Bitcoin Did interview, Alden says she can see BTC becoming a global money and supporting eight billion people due to how Bitcoin is layered.
[adinserter block="1"]“Yes, I think the only way it works realistically is in layers okay, which is how any complex financial system is developed. So you have basically Bitcoin [as] the base layer, [then] you have Lightning [Network] and then you have different layers of custody on top of that.
You can have things like Cash App. Cash App can scale to tons of people, but of course, you’re trusting Cash App. You’re giving up some degree of the permissionless…
I think when you combine multiple layers and technologies together, people can kind of choose their own adventure on how far down the Bitcoin stack they want to go or what their economic reality allows them to go.
Someone with a lot of Bitcoin might want to go deeper on the Bitcoin stack whereas a lot of other people might want to rely on those federated custody services or fully custodial custody services or just have their own kind of Lightning set up.”
Alden also claims money is a type of technology and that we’re still in the early phases of BTC’s existence as a currency.
“If you look back in history… money is this type of technology, and I think we’re 13 years into this, and we’re still premature in terms of imagining the world in 50 to 100 years from now…
But I do think the combination of a global network, with cryptography, with proof of work, with difficulty adjustments has changed the game here in terms of what’s possible with money. And Bitcoin is obviously the best version we know of on how to do that.
You can never really fast forward 20-30 years and say this is what the world looks like, but I think that we’ve opened this Pandora’s Box of recreating the possibility of hard money, commodity money, but one, unlike gold, moves at the speed of light.”
I
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/vectorpouch/Anastasiia Bakai
