{"id":55356,"date":"2019-08-15T07:18:45","date_gmt":"2019-08-15T05:18:45","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=55356"},"modified":"2019-08-15T07:18:48","modified_gmt":"2019-08-15T05:18:48","slug":"coinbase-investor-best-bitcoin-use-case","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/coinbase-investor-best-bitcoin-use-case\/","title":{"rendered":"Coinbase Investor: Best Bitcoin Use Case is &#8220;Storing Value&#8221;"},"content":{"rendered":"\n<h2><strong>Bitcoin is a Safe Haven?<\/strong><\/h2>\n\n\n\n<p>According to Jihan Bowes-Little, an investor of Coinbase through his venture fund Bracket Capital, Bitcoin&#8217;s best use case at the moment is as a &#8220;store of value&#8221; or safe haven. He <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1161257915203948545\" rel=\"nofollow noopener\">made this comment<\/a> in an interview with CNBC&#8217;s seemingly crypto-friendly &#8220;Squawk Box&#8221; segment on Tuesday. <\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">&quot;The strongest use case right now is as a stored value&quot; for <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#BTC<\/a> says <a href=\"https:\/\/twitter.com\/coinbase?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">@Coinbase<\/a> investor <a href=\"https:\/\/twitter.com\/JBLbracket?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">@JBLbracket<\/a> <a href=\"https:\/\/t.co\/qMKc5DtwyA\" rel=\"nofollow\">pic.twitter.com\/qMKc5DtwyA<\/a><\/p>&mdash; Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1161257915203948545?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">August 13, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>He isn&#8217;t the first to have pushed this narrative over recent days. Circle\u2019s Jeremy Allaire <a href=\"https:\/\/en.ethereumworldnews.com\/jeremy-allaire-china-may-be-warming-up-to-crypto-as-yuan-value-plummets\/\">recently\u00a0explained<\/a>\u00a0that he sees that \u201cthe broader theme of, you know, Bitcoin specifically, crypto more broadly participating in these global macro forces is becoming more and more clear.\u201d Allaire made this comment in reference to the correlation between BTC and gold seen on the first days of August, during which the two assets rallied in tandem after Donald Trump announced fresh tariffs on Chinese imports. <\/p>\n\n\n\n<p>The safe haven narrative was recently accentuated by a premium that has appeared in the Bitcoin markets of Hong Kong and Argentina. <\/p>\n\n\n\n<p>As<a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-trading-at-premium-in-crisis-struck-hong-kong-argentina\/\"> reported by Ethereum World News previously<\/a>, the cryptocurrency is purportedly trading at a 4% premium over U.S. exchanges in Hong Kong, where political turmoil has rocked the economy and the political sphere for the past few months. <\/p>\n\n\n\n<p>And in Argentina, where the stock market and local currency has <em>actually <\/em>cratered, there has purportedly been a 10% Bitcoin premium registered by some platforms. <\/p>\n\n\n\n<h2><strong>Not All Are in Agreement <\/strong><\/h2>\n\n\n\n<p>Despite all this, not everyone believes that Bitcoin is being used as a safe haven by those that need it the most. In a recent Twitter thread,  Argentinian-American crypto-friendly economist Alex Kr\u00fcger remarked that his peers back at home aren\u2019t buying Bitcoin, even after fears of a new socialist regime have started to fester, which would only accentuate the need for decentralized money. <\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Before bitcoiners start using Argentina (my country) as excuse to yell &quot;Buy Bitcoin&quot; and generate clicks and sell newsletters.<br><br>Argentines want to protect themselves against the peso losing value versus the dollar. And for that, they buy dollars.<\/p>&mdash; Alex Kr\u00fcger (@krugermacro) <a href=\"https:\/\/twitter.com\/krugermacro\/status\/1160939366098841600?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">August 12, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>In fact, he claimed that the attempts by Bitcoiners to push the cryptocurrency on Argentines are misconstrued, as purchasing U.S. Dollars is a better way to protect their wealth than Bitcoin and its ilk.\u00a0 <\/p>\n\n\n\n<p>In a separate thread \u2014 the analyst published around three on the matter of Argentina\u2019s recent issues \u2014 Kruger argued that Bitcoin awareness in the South American nation is \u201cextremely low\u201d.<\/p>\n\n\n\n<p>To back this point, he looked to the state of the Bitcoin market for the Argentinian Peso, which he claims is \u201chighly illiquid\u201d, sporting less than 50 trades with an aggregate volume of less than $28,000 on Tuesday. Buenbit wasn\u2019t much better, processing 19 BTC in trades on Tuesday.<\/p>\n\n\n\n<p>So the real narrative might be that those unaffected by geopolitical turmoil are speculating on if those affected will buy BTC. <\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">Title Image Courtesy of Unsplash.com <\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is a Safe Haven? According to Jihan Bowes-Little, an investor of Coinbase through his venture fund Bracket Capital, Bitcoin&#8217;s best use case at the moment is as a &#8220;store of value&#8221; or safe haven. He made this comment in an interview with CNBC&#8217;s seemingly crypto-friendly &#8220;Squawk Box&#8221; segment on Tuesday. He isn&#8217;t the first to have pushed this narrative over recent days. Circle\u2019s Jeremy Allaire recently\u00a0explained\u00a0that he sees that \u201cthe broader theme of, you know, Bitcoin specifically, crypto more [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":55375,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[6971,1528,130],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/55356"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=55356"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/55356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/55375"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=55356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=55356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=55356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}