Crypto fund advisor: Bitcoin "is evolving into a global reserve asset"

27 Jan, 2019 | Updated: 27 Jan, 2019
by Will Heasman
Bitcoin
Crypto fund advisor: Bitcoin is evolving into a global reserve asset

According to a recent Tweet storm by Dan Zuller, Partner at vision hill Advisors - a crypto “fund of funds” – Bitcoin, and even Ethereum, may be on track to becoming a global reserve asset.

Before Zuller expressed his perspective on the number one reaching a position as prominent as a global reserve; he quizzically elaborated that crypto could potentially suffer during the next economic downturn:

Zuller directly contradicts a recent blog post from notable venture capitalist Fred Wilson on his assumption that crypto will remain unaffected by a global bear market.

Instead conjecturing that similar downturns from recent years have affected public stock markets especailly the tech industry, alluding to the fact that crypto will be no different:

Despite this seemingly bearish outlook, Zuller pulled back, noting that this sentiment was expressed only in the short term, adding that Bitcoin is evolving to become a global reserve asset and that digital assets such as Ethereum will “play a role” too

However, Zuller caveated that this would likely take “multiple macro cycles”:

Zuller is certainly not the first person to present this sentiment, in fact, its been echoed around the crypto space for quite some time, with particular gusto of late…

Max Keiser, VC investors, crypto commentator and host of the Keiser report, recently stated this opinion in a broadcast of his show. According to Keiser, Bitcoin offers traits that enable “predictable monetary policy” and offers a kind of stability not exhibited by any other currency.

Read more: 'Bitcoin will become the next global reserve currency'Bitcoin as the next global reserve currency to $10 million?

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