Parker Lewis, head of business development at crypto lending platform Unchained Capital, says there are a few fundamental aspects backing Bitcoin’s value.
In an interview with Peter McCormack on the What Bitcoin Did podcast, Lewis addresses the popular conception that Bitcoin (BTC) is backed by nothing and has no intrinsic value.
Comparing Bitcoin to the US dollar, Lewis points out how most claim that the US dollar is backed by the American government. However, the crypto veteran questions the substance of that assertion.
“Someone will very casually say Bitcoin isn’t backed by anything without understanding the principle, because they’ll say ‘the dollar is backed by the government.’ But then they can’t explain well, if the government prints three trillion of them would you still value it? So what is it really backed by?
If the government printed another $10 trillion, would you value the thing the same way that you did today because I can explain to