The chief executive of Bitcoin (BTC) financial services firm Fold is issuing a warning about altcoins, saying that the crypto king’s market dominance isn’t something that will backtrack.
In a new interview with CNBC Television, Fold CEO Will Reeves says that the top crypto asset by market cap’s recent new all-time high was due to a combination of high institutional demand and low supply.
“This is what happens when massive demand meets the finite supply of Bitcoin. And what we’re seeing right now is the supply shock in motion.
Trending: BREAKING: Democrat Lawmaker ARRESTED For Drunk Driving & Fleeing Scene of Accident
So I’d certainly say what we are seeing is the fundamentals of Bitcoin in play…
What we’ve seen recently with the rise of Bitcoin treasury companies, the ETFs (exchange-traded funds) is that entirely new classes
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!