On March 24, a senior executive of a well-known US investment company said,Bitcoin does not have to become a universal payment tool to become the mainstream. As a means of storing value, it can also prosper.

Bitcoin is the most popular cryptocurrency at present. It has no central bank issuing institution and relies on the global blockchain network. Bitcoin was originally designed as a payment tool, but later, because of the sharp rise and fall in price, this function was not highlighted. It is worth mentioning that Tesla, the US electric vehicle company, announced on Wednesday that consumers can already use bitcoin to pay for cars.

On Wednesday, Anthony scaramucci, founder of skybridge capital, a US investment firm and fund manager, told Reuters digital asset week 2021,If bitcoin is to succeed, it doesn't have to be a universal payment currency.

Salamzi said,Bitcoin can become a means of storing value. If the holder wants to make a transaction, he only needs to convert bitcoin into other common currencies.

As a reference, gold is a mainstream stored value tool or asset in the world. Gold can not be used as a currency to pay. Once the financial market fluctuates, gold will quickly become a "sweet cake asset" for investors to avoid risks.

Earlier this year, salamzi's skybridge capital launched a bitcoin fund with assets under management of as much as $310 million.

This month, bitcoin prices hit an all-time high of about $62000. The factors behind this round of price hike include more companies supporting bitcoin as a universal payment tool (especially Tesla and musk). In addition, in the face of global inflation risk, investors hope to use bitcoin as an asset preservation and appreciation tool to avoid inflation.

It is worth mentioning that salamzi once served as the media director of the White House in 2017, but after only one week's work, he was fired by then US President trump.

Salamzi also stressed that he is not a "die hard fan" of bitcoin. He is only an investor of bitcoin and used to be a skeptic. He believes that bitcoin is still a volatile asset with certain risks.

Digital dollars?

Salamzi also revealed on Wednesday that the trump government had been biased against bitcoin because it was worried that bitcoin would threaten the U.S. dollar's status as a global reserve currency. He said that for US government regulators, any financial innovation that affects the low dollar is not welcome, and the dollar is also a tool for the US government to adjust its economic policies.

Obviously, bitcoin has a long way to go if it wants to replace the US dollar as the mainstream.

(2021-3-25)