Authorities will never be able to manipulate $BTC Said Neil Bergquist
The CEO of cryptocurrency exchange Coinme has publicly called bitcoin the most effective store of value that can change the international financial sector.
According to Neil Bergquist, with rising inflation and economic uncertainty, bitcoin is becoming a viable alternative to traditional assets, including gold. One key aspect is the limited supply of coins coupled with growing demand, which has led to a significant rise in BTC over the past decade. Unlike traditional currencies, bitcoin is not subject to the vagaries of governments' monetary policies, so the first cryptocurrency is safer for investors in times of economic instability, the businessman explained.
"Imagine that the supply of US dollars increased by 100% overnight. Inevitably, rampant inflation ensued, undermining the purchasing power of every dollar in circulation. Now imagine another scenario: the supply of bitcoins doubles and an additional 21 million coins appear. The latter scenario is simply impossible! This rule is hard-programmed into the Bitcoin blockchain, and it cannot change. Whereas the US Federal Reserve is able to manipulate paper currency, influencing the economy and controlling interest rates," the Coinme executive was outraged.
