Macro guru Lyn Alden says that people are starting to understand the unique value proposition of Bitcoin (BTC) following the collapse of several regional banks this year.
In a recent MicroStrategy World Panel Session, Alden says that Americans are beginning to realize that banks are risky, which she highlights is something that the rest of the world already understands.
“I think people took for granted what a lot of the world doesn’t take for granted, which is that banks are risky, that there’s risk there, especially if you’re above certain insurance limits. Basically, you’re lending to the bank to invest in a variety of assets, and most of us don’t take the time to study the assets of the banks we operate in. Many of them are not public, so we can’t even do so if we wanted to.”
According to Alden, the current banking crisis is opening the eyes of many investors to the value of Bitcoin. The macro guru mentions a few of Bitcoin’s fundamental properties that make the crypto king an attractive storehold of wealth.
“So we’re seeing firsthand some of the risks that are just common throughout the world and the narrative of Bitcoin and basically being able to self-custody your own assets, having assets that can’t be diluted, having assets that are not someone else’s liability, I think are coming more to the fore. The narrative is obviously strengthened by some of these issues.”
At time of writing, Bitcoin is trading for $27,204.
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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 loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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