The rise in the value of Bitcoin signals the start of the crypto spring and is not necessarily linked to this year’s banking crisis, the chair of Bitcoin Suisse said in an interview with finews.com.
«People are too fast to connect recent events to general movements,» Bitcoin Suisse chair Luzius Meisser said, adding that Bitcoin’s gain in value since the beginning of the year corresponds to the four-year cyclicality of the crypto industry.
For Meisser the recent downfall of one of Switzerland’s systemically relevant banks, Credit Suisse, shows the shortcomings of a centralized banking system trying to tackle risks that usually appear bottom-up.
Besides the ongoing trend of tokenized finance, Luzius sees potential for decentralized collateralized stablecoins which have «the potential to build banks without banks.»
This allows money creation to be «decentralized and fully transparent,» he said.
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