When I heard someone say Bitcoin was a financial bubble, I always believed that they were either joking or they were stupid and did not understand Bitcoin. If you want to compare Bitcoin with something, I would like to compare it to a needle. Certainly that!As economist and co-founder of the Bitcoin Foundation, Jon Matonis affirmed his belief in Bitcoin's future and dispelled the fear of bubbles.
In an interview on April 2 with Business Insider at Innovate Finance in London, Matonis said that the Bitcoin concept is a financial bubble is a misleading and unethical concept. He added:
" Some people think Bitcoin is a bubble, but Bitcoin is a needle for me. The real bubble is the crazy bond market and the fake stock market that is supported by central banks. "
The recession of Bitcoin in recent weeks has led to rumors that Bitcoin's $ 20,000 peak at the end of 2017 is a bubble-like sign that will never return.
Although Bitcoin has become more user-friendly and its introduction of Lightning Network technology in the past few months has been unable to revive the value of copper, market sentiment remains bearish.
However, Matonis said:
" We can not predict the future, especially for the financial industry. But I think it's great that banks are entering the pre-coding market as this brings new liquidity ... They will develop futures markets, select markets - I even think You will start seeing interest rates around the bitcoin. We often hear about Libor, so Bitcoin's interest rate index is Bibor. "
