According to strategist and vice president of DBS Bank Daryl Ho, bitcoin has a number of advantages over traditional currencies. He told reporters that transactions on the BTC network can be made continuously and without the need for approval from any regulatory authorities.
Independence is the main advantage of bitcoin. It is not subordinate to states, and such an instrument has never been in history before, the expert emphasized. Fiat currencies, on the other hand, are managed by central banks, and payment systems check every transaction and may reject it.
The crypto market can attract liquidity 24/7. Ho acknowledged that bitcoin is a volatile asset, but its attractiveness is still growing. In addition, it must be remembered that the cryptocurrency is based on innovative technology that creates the conditions for rapid and high-quality changes in the global financial system.
The DBS Bank Strategist emphasized:
I think bitcoin is still unique whether its price changes or not. We have a lot of information that cryptocurrencies really bring a lot of benefits to the economy.