Mining Capital’s Alastair Ford talks to Proactive London’s Katie Pilbeam about the surge of Bitcoin this year, at one point trading above the US$40,000 (£29,500) mark for the first time in its history after doubling its value in less than a month.
Speaking about the qualities of the cryptocurrency, Ford says “you can’t dilute it, you can’t make an infinite amount of it as its a limited resource which means its value is always going to be relatively easy to calculate in terms of supply and demand, the same is true of gold”.
Gold has traditionally been used as a store of value, and now Bitcoin is being viewed in the same way with the mainstream institutional investor.
Ford says the “western economic system has become a house of cards”.
The post “Western economic system has become a house of cards” appeared first on TechFans.