Hedge fund manager Brian Kelly says the surging number of institutional investors owning bitcoin is down to the digital currency’s core value proposition- a fixed coin supply. On the other hand, the same institutional investor interest is helping to build confidence in the top cryptocurrency while taking away some of the perceived risks.
Bitcoin Value Proposition
Kelly’s comments follow reports that the European Central Bank (ECB) wants to issue its own digital currency. Speaking in an interview, Kelly, who is the founder of BK Asset Management, dismisses the notion that a central bank-issued digital currency poses a threat to bitcoin.
Noting that China and the U.S. have similar plans, Kelly is quick to point out that none of the central bank-issued digital currencies can match bitcoin’s value proposition. Kelly explains:
I cannot imagine the ECB issuing a digital currency that has a fixed supply. In fact, I would think it