Crypto hedge fund veteran Zhu Su is saying that Bitcoin (BTC) is much safer than conventional belongings like gold and silver from a authorities crackdown.
The CEO and CIO of cryptocurrency hedge fund Three Arrows Capital tells his 429,000 followers on Twitter that banning the highest crypto will doubtless be the final resort of governments.
Su’s remark is available in response to billionaire Ray Dalio’s assertion that governments may even see Bitcoin as a menace to their very own foreign money and outlaw it simply as they’ve outlawed gold and silver up to now.
I truly suppose Bitcoin can be the final of the shops of worth that Western govts try to ban, if it got here to that. First can be wealth taxes on equities, actual property, larger property taxes. If you suppose in generational phrases, that is additionally apparent as millennials take energy. pic.twitter.com/jiDcr4c8du
— Zhu Su 🔺 (@zhusu) January 5, 2022
Su points out the challenges that might make it troublesome for authorities to ban crypto, together with the shortage of coordination among the many world’s political powers.
“I think the free mobility of capital and labor, as well as continued fragmentation of political power, means that there is no global coordination point against the idea of internet money.”
Su says that extra individuals now maintain and use digital currencies whereas gold and silver are owned by only some.
“Unlike gold or silver, crypto could be very troublesome to seize from people.
Also not like gold or silver, crypto is turning into owned and used every day by the silent majority.
The higher analogy can be whether or not the Catholic church might’ve stopped the Protestant reformation, I believe.”
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