Lyn Alden: BTC’s Value Will Grow As Banks Become Riskier
Macroeconomics expert Lyn Alden says that after the failure of several regional banks this year, people are beginning to understand the unique value of Bitcoin (BTC).
Alden said at a recent MicroStrategy World Panel Session that Americans are starting to understand that banks are dangerous, which is something that the rest of the world already knows.
“I think people took for granted what a lot of the world doesn’t take for granted, which is that banks are risky, that there’s risk there, especially if you’re above certain insurance limits. Basically, you’re lending to the bank to invest in a variety of assets, and most of us don’t take the time to study the assets of the banks we operate in. Many of them are not public, so we can’t even do so if we wanted to.”
Alden says that the current banking problem is making many investors see the value of Bitcoin for the first time. The macro guru talks about a few of Bitcoin’s basic Features that make it an attractive way to store wealth.
“So we’re seeing firsthand some of the risks that are just common throughout the world and the narrative of Bitcoin and basically being able to self-custody your own assets, having assets that can’t be diluted, having assets that are not someone else’s liability, I think are coming more to the fore. The narrative is obviously strengthened by some of these issues.”
At the time this was written, Bitcoin was being sold for $27,204.
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