Jad Comair – the founder and CIO of Melanion Capital – believes that regulators will not kill Bitcoin if they have actually become too successful. According to him, such a step would be possible only in some authoritarian countries, while the USA and the developed G7 countries would never take this “cruel step”.
Regulators will not kill Bitcoin, Ray Dalio is wrong
Ray Dalio believes that if BTC succeeds and enters the mainstream, regulators and governments would eventually take control of it. In addition, the authorities would “kill” the asset because “they have ways to kill it.” However, not everyone agrees with his evaluation.
According to Jada Comair, executive director of information systems at the French investment management company Melanion Capital, such an event sounds “very extreme”. He pointed out that the US had already actually adopted BTC in its financial system, and that many American investors had allocated a significant amount of funds to the crypto market. This means that a ban on digital assets would have a negative impact on the economic network:
“I THINK IT IS A VERY EXTREME SCENARIO, AND I DON’T THINK DEVELOPED COUNTRIES AS WE, AS ALL G7 COUNTRIES, HAVE TAKEN TO SUCH A STEP. THIS IS A VERY HYPOTHETICAL SCENARIO I DON’T THINK COULD HAPPEN ”
The Frenchman added that most governments are trying to come up with rules for digital assets not because they are against them, but because they want to protect investors. In fact, the adoption of regulations would be very beneficial:
“If you have the right rules, it could unleash the power of cryptocurrencies”
Comair is not the only person who disagrees with Ray Dalio’s statement. Recently, Bloomberg’s chief commodity market strategist, Mike McGlone, has spoken in a similar vein. According to him, stopping BTC is almost impossible.
Is BTC heading for $ 500,000?
It is very difficult at this time to predict the future price of BTC. However, due to the growing adoption, the scenario according to which Bitcoion will go to zero is already out of the game and unrealistic.
Asked if he supported Cathie Wood’s view that the value of the primary cryptocurrency could reach $ 500,000, said it could not be ruled out. He believes that the same factors that brought BTC to $ 50,000 (higher adoption rate, growing community or number of wallets) could lead BTC to a significant milestone of $ 500,000.
BTC is better than gold
Finally, he also talked about one of the hottest topics in the cryptocommunity – the correlation between Bitcoin and gold. Comair has added its names to a list of prominent personalities, which includes, for example, one of the founders of Apple, Steve Wozniak, the director of MicroStrategy Michael Saylor and Anthony Scaramucci. They all consider a digital asset to be superior to a precious metal.
Comair claims that BTC is better than gold because it is much more harmful to the environment. He even said that yellow metal was “the worst asset in which we store our value today.”
We have two opposing views here. Which one is closer to you? Dalio’s, where he warns that the powers of this world should cut BTC’s levers, or is it too late for this scenario and BTC won’t stop anything?