Bitcoin’s (BTC) value proposition continues to be a source of confidence for investors and proponents amid prevailing depressed market conditions for the wider cryptocurrency space.
This was a key takeaway from in-depth interviews with Bitcoin developers, advocates, analysts and influential figures during the Bitcoin Amsterdam conference hosted at Westergas in Oct. 2023.
Jameson Lopp, CEO of Bitcoin custody firm Casa, provides food for thought with less than a year to go before Bitcoin’s next mining reward halving. In conversation with Cointelegraph, the Bitcoin advocate and software engineer says that BTC’s value proposition has been a proverbial stronghold through months of tough market conditions:
“During the bear market, so many people have lost money on all these other tokens. Once again, Bitcoin is shining as the safer asset.”
Dylan LeClair is another prominent voice in the Bitcoin space that continues to advocate the fundamentals of the asset amid an unprecedented economic landscape in the United States. The Bitcoin analyst tells Cointelegraph that the average investor continues to “passively plow” into a basket of government bonds and U.S. companies in the hopes of making money over the long term.
LeClair admits that while no analyst can guarantee returns on investments on any one asset or vehicle, there is an increasingly strong argument for the long term potential of Bitcoin:
“Nothing is guaranteed, but its fundamentals suggest that in a very long time frame you’re going to be securing a very good store of value. Like how people used to buy property or buy gold, whereas it has digital characteristics.”
The analyst adds that Bitcoin continues to be a means for citizens of countries facing hyperinflation to safeguard and control their wealth:
“The people using Bitcoin, the true adopters, have more conviction than ever and it’s more widespread than ever. People in third world countries are using Bitcoin not because it’s fashionable or hyped. It’s because they’re using it to save them from losing everything.”
Meanwhile Jimmy Song, Bitcoin developer and educator, tells Cointelegraph that alt coins have detracted from the transformational potential of Bitcoin by “muddying the waters between centralization and…