Nexo’s Trenchev on Bloomberg: BTC Is Your “Get-Out-of-the-Recession-Free Card”
With the Bitcoin Halving now expected imminently, Nexo’s co-founder and managing partner Antoni Trenchev joined Bloomberg Markets: European Open anchors Matt Miller and Anna Edwards to discuss what lies ahead for Bitcoin after the halving.
Here are the highlights of the interview:
- Bitcoin shows great resilience to the economic volatility spurred by the COVID-19 pandemic thanks to its “quantitative hardening” mechanism as against central banks’ quantitative easing programs.
- Central banks pumped a fresh $8 trillion of cash over the past two months, but like gold, Bitcoin’s provable scarcity gives investors protection against inflationary pressures.
- Bitcoin’s fundamentals are stronger than ever — leveraging its gold-like qualities, it will continue its upward trend to reach $50,000 by the end of 2020.
- Traders and investors should not be concerned about the daily fluctuations of Bitcoin, but remain focused on the big picture — Bitcoin is the best performing asset in the past 10 years аnd the only free market at play now.
- Around the halving, Nexo is seeing an influx of individual and institutional clients alike looking to borrow against their Bitcoin to take advantage of the lower prices and invest further.
- Miners are specifically approaching Nexo to help cover production costs without selling their Bitcoins.
Watch Antoni’s full interview here:
For Nexo’s analysis on Bitcoin’s behavior around the third halving, read “The Halving Beyond the Hype”.
We wish you a strong halving.