According to Morgan Creek CEO Mark Yusko, traditional institutions are trying in every possible way to slow down the adoption of bitcoin.
The businessman expressed his position on Twitter and noted that opposition from such institutions is one of the main problems for the largest digital currency and the blockchain industry in general.
In summary, Administration is paid handsomely by financial services industry to create impediments to competition so current rumors not surprising or unexpected#Bitcoin network is global, decentralized system that will overcome this threat (just like others before)#BuyAndHODL— Mark W. Yusko (@MarkYusko) November 27, 2020
Yusko is convinced that such a policy of regulators hinders the introduction of innovations. If there is a threat to the traditional financial sector, then officials are always ready to use and use all the tools at their disposal to slow down the introduction of new technologies, said the CEO of Morgan Creek.
Mark Yusko also touched on the topic of Bitcoin volatility. According to him, speculators influence the current price of the coin. However, in the long term, those who stake cryptocurrencies, and not a speculative activity, will still win.
The world is entering a qualitatively new system of financial relations. That is a paradigm shift, so investors who are inclined to long-term storage of bitcoin will emerge victorious from the confrontation with speculators, Yusko claims.