Bitcoin has been on a tear lately, crossing the $110,000 mark in May. Rebecca Walser, CEO, Walser Wealth Management, joined TheStreet to discuss why blockchain could be the future of currency.
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REBECCA WALSER: So Bitcoin is as you may see has breached the $111,000 mark. And that means that people have confidence in this blockchain technology Bitcoin being the grandfather of it all. And so I do think that Bitcoin is going to be set for a longer term upside. And, I don’t know the machinations back and forth that might retrench back and then go back over $100,000 again. If it does retrench back. It’s a similar situation as gold. When equities and bonds and money supply constricts, people will create liquidation events. And sometimes that will be Bitcoin that they will liquidate for whatever capital raise reasons.
So don’t get concerned about the gyrations, especially through the summer when we’re going through tariff negotiations and you’ll see trade deals being announced and you’ll see a gyrate. The future of currency is blockchain. It absolutely is, whether it’s central bank digital blockchain currency or it is privatized Bitcoin, Ethereum and all of the others. Blockchain, Dogecoin, blockchain technology, it doesn’t really matter. It’s on the blockchain. It is the future. And it is going to be the end of Fiat currency eventually, which means our entire banking system will have to change and a lot of things will be different. But this is the future and Bitcoin is the grandfather. And so I think that yeah Bitcoin is going to have a nice long run. But it will gyrate down and forth just like gold when there’s liquidity based events
