Bitcoin is the “strongest monetary fire alarm” in finance

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The price of Bitcoin is above $ 50,000, at a time when the masses expected the highest cryptocurrency by market cap to behave like a risky asset.

Instead, it appears to be the only asset that was able to survive the change in bearish sentiment due to Evergrande’s situation in China. But that could be because cryptocurrency is what the founder of an investment firm says is “finance’s strongest monetary fire alarm.”

Bitcoin sounds the alarm with stock manager Lawrence Lepard

Fire alarms are designed to get people’s attention. They are loud and often the lights flash dramatically as a siren screams as loud as it can.

Related reading | Inflatable Bitcoin rat Nelson Saiers is back to take on the Fed

That’s exactly what Lawrence Lepard, founder of Equity Management Associates, LLC, said about Bitcoin in an interview with Kitco on the topic of “healthy money”.

Litecoin is solid money like bitcoin. pic.twitter.com/ih2SCXJeep

– Master250k BTC 3k LTC 2021 (@MASTERBTCLTC) October 4, 2021

Kitco looks a lot like us, except that they focus on the gold market and less on Bitcoin. For us, it’s the other way around.

At the recent Gold Forum Americas, the world’s oldest and largest annual gathering of precious metals companies, representing “the seven-eighths of the world’s publicly traded gold and silver companies, as measured by production or reserves, ”Kitco spoke to the longtime equity manager.

The conversation quickly turned to Bitcoin, bringing up the topic of healthy money.

Bitcoin is a strong fire alarm | Source: BTCUSD on TradingView.com

Lepard says a lot of goldbugs don’t take the time to figure out Bitcoin, but “they should.” He continues that the importance of so-called “shitcoins” tarnishes Bitcoin’s reputation with solid silver investors who prefer silver and gold.

“Crypto is full of messy stuff,” Lepard warned. But then goes on to assert that the very first cryptocurrency is a technological “incredible innovation”.

Related reading | Elliott Wave Expert sees greater price appreciation unfold in Bitcoin

He claims that the immutable blockchain ledger the asset is built on makes BTC arguably stronger than gold, referring to its “three-entry accounting.”

“Anyone can see it,” Lepard added.

This makes Bitcoin better than gold, as Lepard says even central banks have infiltrated the gold markets in one way or another. He explains that because of this and all the “paper gold” banks have created, Bitcoin has become “the strongest monetary fire alarm in the system right now.”

Put simply, this guiding partner believes that BTC is stronger than gold. Will others find their way there too?

Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC telegram. The content is educational and should not be taken as investment advice.

Featured image from iStockPhoto, charts from TradingView.com

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