Meltem Demirors on Yahoo Finance: "Bitcoin is still highly speculative"

13 May, 2019
by David Borman
Meltem Demirors on Yahoo Finance: Bitcoin is still highly speculative

Today saw Meltem Demirors, the Chief Strategy Officer from CoinShares, go on Yahoo Finance to discuss the positive news and resulting price action surrounding Bitcoin today. Her take is that the volatility in the market has dropped and institutional interest is now on the rise, which is helping to fuel this bull market.

Early on, Demirors admits:

"Bitcoin is still highly speculative, it's a new asset class, it's a new technology, and so much of the price volatility around Bitcoin has really waxed and waned, the level of interest we're seeing from Wall Street and legacy financial institutions."

Demirors then goes onto discuss some of the exciting news that has already come out of Blockchain Week in NY, such as Bakkt rolling out its Bitcoin Futures contract in July, and Microsoft using the Bitcoin network for its new ID system.

The host then asks if Bitcoin is no longer as "sexy" as it used to be, like when it was pushing $20,000, to which Demirors points out how the price has doubled over the last six weeks,which is still pretty attractive to investors.

Another question levied at Demirors is how to actually find a meaningful value for a currency that has no underlying asset. She comes back with the observation that Bitcoin is and has always been run by a decentralized, volunteer, community. She makes a case that the importance of Bitcoin comes from the fact it is a better store and transmitter of value than the legacy forms of currency, though it may never work just like them.

Overall an interesting interview and well worth a look. Demirors seems skilled at admitting the current limitations of the technology without being negative about where it is going. Will investors feel the same? Stick with Chepicap for all updates!

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