The digital asset world has been rocked by several scams and negative news over its lifetime. However, the current bullish scenario seems to have provided a reprieve from it. This was a topic discussed in the latest WhatBitcoinDidPodcast hosted by Peter McCormack, where he spoke to Travis Kling, Founder and Chief Investment Officer of Ikigai Asset Management.
Travis Kling stated that Bitcoin and the rest of the cryptocurrency market was having a good run over the course of the past few weeks and the sentiment around the ecosystem was largely positive. In his words,
“The people in the space show an enormously positive vibe with a feeling of a growing sense of maturation year over year. Now that there are fewer charlatans and scammers in the fields it becomes easier for more Bitcoin centric announcements to be made.”
Kling claimed that the reason why a lot of the discussions revolved around Bitcoin was that the king coin was trying to be a store of value. He added that Bitcoin would not be a method of exchange anytime soon because “it was too good at being the latter.” He stated that the price of Bitcoin had to go up much more for it to be used as a method of exchange because then, the digital asset would garner a mainstream following. According to him,
“Bitcoin has gone through a lot of phases and in my opinion, it is a non-sovereign, hard cap supply, global commodity. In other words it is an insurance policy against central banks even though Bitcoin is not a safe haven right now. The reason why I, like so many others are excited about it is because it has the characteristics it possesses to grow.”
The Ikigai CIO added that when you align BTC with gold,