Bart Smith, the point of contact for digital assets at Susquehanna International Groups shared with CNBC Recently, why, in his opinion, the Bitcoin is still the most reliable investment among the crypto-currencies. In addition, he also spoke of his assessment to the development of the Bitcoin price.
In the show “Fast Money” on CNBC, Smith pointed out that Bitcoin has found the best application in the “real world”, as people do now, it “functional”. In a comment, he explained:
“If you want to have an asset, you may currently use and is already being used functionally, then it is Bitcoin. The use case for Bitcoin is today, it counts as the currency of the Internet.“
He reiterated that Bitcoin was not a kind of “digital Gold”. Bitcoin could be used as a uncensored cross-border and an efficient tool for value transfer. Smith underlined his statement again, that Bitcoin as a money transfer method is of inestimable value, and said:
“You are using Western Union and traditional banks; that is slow and expensive. And there is someone else who can prevent you from sending money, no matter whether it is good or bad. With Bitcoin I can send money. Fast and cheap. And to be quite honest, to me no one can stop it.“
When comparing Bitcoin with Altcoins, especially those that propagate, for example, Smart Contracts, said the Trader from the Susquehanna to the fact that the price of Bitcoin will fall, since the above-mentioned use cases, it will be on its place.
“If these are the two use cases of today. It is hard to imagine that Bitcoin will lose its two cases against the Rest.“
The Altcoin market is “bloated”
On the question of CNBCs host, Melissa Lee, if he think it is good that the volatility of Bitcoin have abated somewhat and he had found his “trading range,” said the Wall Street Trader’s account on his statement of the “digital gold” and said that Bitcoin had become a kind of reserve currency in this industry and also to the backbone of a majority of crypto-to-crypto Trades.
A little later, the Trader reported that the Altcoin market, however, is bloated. The reason for this is the widespread speculation by private investors.
“Of Bitcoin, many were thrilled, as well as the many Tokens and use cases. And all of a sudden have all seen that all of these small Tokens to surpass everything. We have some interpreted too much into it.“
While Smith is more talked about the Blockchain-the development of Altcoins, he said, that a widespread adaptation of Smart Contracts and the Lightning Network make this possible, what takes. So he wanted to Express again, that Bitcoin is to be regarded as the only crypto-currency with non-speculative value.