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@ halalmoney
2025-05-07 11:06:45
Investment managers' views on Bitcoin from 2021:
"…the very reason why the world ultimately gave up on gold as the anchor of the monetary system is the same [reason] why bitcoin cannot be used safely as a reference currency. The gold standard system failed because gold-rich central banks were under no obligation to lend it to debtor countries.
The liquidity of the system was far too tight and contributed to massive financial crises. More recently, in March 2020 the world was reminded why central banks play a crucial role in times of massive uncertainty - they can create liquidity without limits. The problem with bitcoin is not so much that there is no central ‘generator’ which can regulate liquidity, it’s because it operates under programmed scarcity. By definition, liquidity will decline on trend."
"The ability to make electronic exchanges without a trusted party - a defining characteristic of bitcoin - is radically new."
https://www.axa-im.co.uk/investment-institute/investment-themes/technology/bitcoin-it-asset-or-just-pure-s