Investment strategist Lyn Alden explains why she remains bullish on Bitcoin long term
Despite Bitcoin’s fall from an all-time high over the past year, highly respected equity research analyst and investment strategist Lyn Alden says she is bullish on long-term $BTC.
Alden, who offers equity research and investment strategies for clients, made her comments during a recent interview with Alessio Rastani, in which she argued that the bigger picture for Bitcoin is bright compared to the past twelve months, when $BTC fell more than 60% from all-time high price.
Alden said now was the time to focus on “what’s real, what’s being built,” with a particular emphasis on problems solved by crypto and blockchain. She noted that investors should take a global view of Bitcoin’s progress, including in developing markets, and the myriad problems worldwide with monetary systems.
As reported by The Daily Hodl, Alden said:
What happens to inflation, what happens to authoritarian countries or frozen bank accounts and all that sort of thing, and what technologies might actually be useful to them?
Alden claimed to be “long-term structurally bullish” on Bitcoin and that the cryptoasset’s fundamentals were positive. The investment strategist looked at Bitcoin’s development as an indication of fundamentals, saying the Lightning Network, evolving market adoption and other on-chain indicators provided a greater signal of value than the noise of price volatility.
Alden concluded by saying there were “different ways” to analyze the crypto market and the outlook for Bitcoin for investors to get a snapshot of “what’s going on under the hood.”
On July 30, during an interview with Anthony Pompliano, Alden highlighted the “significant” role that stablecoins play in the digital currency landscape and their potential for further use. Alden noted that stablecoins currently serve as a unit of account for “many trading platforms,” including both centralized exchanges and decentralized financial markets (DeFi).
As reported by The Daily Hodl, she said:
It is basically a digital representation of dollars. It’s still dollars. I’m not talking about the algorithmic variety, but the actual fiat-collateralized variety. It’s just dollars in this kind of more efficient packaging.
Alden also argued that stablecoins played a role in certain countries and emerging markets by mitigating the volatility of fiat currencies. She said stablecoins were useful in nations with failing currencies, such as Argentina, and give people an opportunity for “interim savings.”
Alden told Pompliano that stablecoins would be increasingly useful to help meet demand globally for US dollars. She noted that stablecoins provided a technology for individuals worldwide to acquire dollars, despite the banking networks and accessibility provided by governments.
She highlighted Lightning Labs’ Taro protocol, which allows low-cost transfer of dollars using Bitcoin’s network, as a potential boon for stablecoins:
That’s why I also think that there are cool things like Taro on Lighting that can potentially bring stablecoins over to Bitcoin, and it’s just going to be the network that’s most efficient to move those dollars around because they’re less about pure decentralization and more about what which can give people access to a cheap opportunity to access the foreign central hub of dollars.
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