Florian Koschat points out that bitcoin is a question of buying principle and not timing.
Carinthia, Austria, January 20, 2021 (GLOBE NEWSWIRE) – With so many changes happening all around us, it’s crucial to notice how the financial industry has also been witnessing some great revolutions from the past few years, thanks to the many redefining moments caused by the emergence of bitcoin and cryptocurrencies that have forced people to learn more about the same and also accept it as the best revolvers in the financial world. Speaking about the same and sharing his views on bitcoin, today we contacted an Austrian entrepreneur and an Investment Banker named Florian Koschat, who is also a writer and Senator in the Parliament of Economics.
By explaining what bitcoin is, Florian Koschat says that it is not just a currency but an asset class for protecting value. Bitcoin serves as the most modern asset class and is increasingly used for payments and transactions. He further explains that the hype that bitcoin has been experiencing over the past few years and right now, most importantly, is because it is extremely secure and also limited in number. It offers various benefits, including Counterfeiting, Restriction and Devolution, which prove why bitcoin is even better than gold.
Florian Koschat points out that while there are other cryptocurrencies besides bitcoin, they may not profit as he feels that not all of them can keep up with the growth and rise of bitcoin, due to its limitation and other technical progress it ‘ n do it every day that goes by. He also feels that other cryptocurrencies will definitely be used but not as a new asset class with unique selling points such as bitcoin.
Asked about the highs and lows of bitcoin in the financial markets, where at the end of 2017 it rose to nearly 17,000 euros and then collapsed again, Florian Koschat says many factors are leading to this market rising and falling. Like, Paypal who showed interest in making cryptocurrencies, especially bitcoin for all masses. This opened the door to bitcoin for institutional investors. This was followed by Michael Taylor, who invested almost 1 billion USD in bitcoin. Also, the current pandemic has led to fear of inflation and bitcoin is the best solution and protection for the same.
That said, Florian Koschat also believes it will not replace currencies like EUR; however, cash liquidation is on its way, but e-euro is likely; ie, digital Euro will enter the markets. Talking about the price, the leading Investment Banker says many banks and analysts see the price of more than USD 100,000 in the medium term. Others say it will reach USD 500,000, but the entrepreneur says there is still a long way to go.
Finally, Florian Koschat points out that buying bitcoin is a question of principle and not timing. He explains that if people believe in bitcoin and share the assessments of the professionals, then the price of admission should not be a major concern. People can also buy in contributions thereby capturing more favorable and less favorable access moments. However, people must also know that sudden corrections are also on the way up. The Austrian entrepreneur himself has personally invested in bitcoin, has a wallet with BITPANDA and holds bitcoins directly.
This news was published for the above source. Florian Koschat [ID=16443]
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