Circle CEO optimistic about Bitcoin safe haven status despite recent volatility
- The CEO of Circle Jeremy Allaire was recently commenting on the status of Bitcoin on CNBC.
- Allaire gave his view on the recent volatility: “Bitcoin is up over 100%, almost 200% over the past 9 months or so, that’s a place to take some gains as well”.
The Circle CEO Jeremy Allaire, a financial services company, recently expressed his optimism regarding Bitcoin, being labelled as somewhat of a safe-haven, while speaking to CNBC.
He said:
Clearly, a non-sovereign digital asset like bitcoin is attractive to people who are interested in moving capital into a place where they can control it themselves. That underscores a lot of interest that’s been there over time. It’s the digital gold thesis, and I think a lot of both institutional accumulators of bitcoin, individuals, very specifically individuals in jurisdictions or environments where the intense concern about capital controls are there. That’s an underlying thesis that I think has had an impact on it for the last eight years.
Allaire further commented around some causes for the volatility of the Bitcoin and said:
“Obviously, Bitcoin is up over 100%, almost 200% over the past 9 months or so, that’s a place to take some gains as well. Depending on the type of holder, so to speak, you’re going to see slightly different behaviors during these market moves."
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
