Here’s why Bitcoin [BTC] can never be irrelevant according to this macro investor

• Dan Tapiero stated that the traditional banking system has definitely witnessed a fall
• Comparing BTC to gold, he stated that the former is much bigger than gold

Dan Tapiero, CEO of a private equity fund, was a guest on the latest episode of The Pompliano Podcast. During the same, the equity fund manager shared his thoughts on the ongoing explosions in the banking system.

He further shared his thoughts on the current state of the cryptocurrency market and why Bitcoin [BTC] could never be irrelevant.

Deep diving in it all

Commenting rampant FUD in the banking system, exec stated that the banking system has definitely witnessed a crash. Furthermore, he also stated that the explosion in the banking system was a serious incident.

Tapiero addressed the issue of high interest rates, stating that every interest rate cycle has peaked due to ongoing debacles in the banking system. He also cited “failed oversight” by financial regulators as one of the main reasons for the uncertainty in the traditional banking environment.

Addressing the age-old gold vs BTC comparison, Tapiero stated that BTC is much bigger than gold. He also stated,

“Gold is a store of value, anti-dollar play and there is a physical component that I think is very important. Bitcoin, and you know that the Bitcoin code in the Bitcoin network is a brand new innovation for the world. It has the potential to change the way we move value or the way we store value.”

Furthermore, he agreed with Tudor Jones’ comment that BTC is the fastest horse. He attributed the strength of the BTC network to the Proof-of-Work (PoW) model. In addition, he considered BTC’s security component “bulletproof”.

Is ETH making its place?

Speaking about the king of altcoins, Dan stated that Ethereum [ETH] managed to achieve network effect. This has led to a number of blockchain developers flocking to the chain to come up with various use cases. He further stated that Bitcoin and Ethereum can be considered the strongest chains in the cryptocurrency market.

Is Bitcoin In It For The Long Term?

Bitcoin’s ongoing bull run has become clear to give investors some hope about the state of the ongoing market. Speaking of the same, the BTC investor stated that the transition to BTC was extremely natural. Furthermore, people who generate wealth will look for various sources such as investments.

He also stated that when there was a problem with the banking system, people would automatically prefer an alternative way of investing. In this case it is BTC.

When asked how big BTC would become, Tapiero stated that relying on gold and BTC would increase in the future. The increased reliance on gold would come only because of its physical component.

However, when talking about the value of BTC in the coming years, he stated,

“It’s not about what Bitcoin is worth versus gold, it’s what this whole world predicted on the Bitcoin code is going to be worth.”

Speaking about the future of the cryptocurrency market as a whole, he stated that,

“We don’t necessarily know which area is going to run with a ball and be the biggest grower. I don’t even think it’s that important. I think it’s just important to have exposure to this space in general, and here we are at the end of the bear phase. $1.7 trillion in value is trapped in this world and it’s not going to zero and it’s not going away.”