CEO of US Global Consulting Company: 2021 will be an important year for Bitcoin and Ethereum
Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), Author: SAM BOURGI, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Cointelegraph Chinese (ID: CointelegraphChina)expressFrank Holmes, CEO of American Global Advisors, said that 2021 will be an important year not only for gold, but also for cryptocurrencies.BTC) and Ethereum (ETHIn an interview with Kitco News on Monday, Holmes
express
, he expects Bitcoin (
) and Ethereum () have performed as well as gold. He believes that these digital assets are seeing increased adoption due to their underlying value drivers.Regarding Bitcoin, Holmes believes that as the multi-year trend continues, more and more people are embracing this digital asset:
“Over the past three years, the number of wallets has continued to increase, and the number of people embracing Bitcoin has continued to increase. The growth has been very stable.”
Although many in the cryptocurrency industry
Compare Bitcoin to Gold, but Holmes said that Bitcoin is not driven by the same macro drivers as gold. Instead, the catalyst for Bitcoin was the deflationary halving event in May of this year.。
He explained:DeFi"If tomorrow all the gold mines in the world said we were going to cut production by 50%, I can assure you that the price of gold would be $10,000."
"It's a supply and demand function," Holmes concluded. After the halving in May, the number of newly mined bitcoins entering the market dropped to about 900 per day, and these
Supply has been quickly absorbed by institutions and large corporations
Meanwhile, Ethereum continues to benefit from decentralized finance (
