Dan Held, director of growth marketing at Kraken, says that the super cycle theory of Bitcoin (BTC)which he first established in 2019, is still valid.
According to Held, the theory promotes the idea that a perfect storm such as distrust of governments and institutions will spur mainstream adoption of Bitcoin and push up the price of the leading crypto-asset.
In a new interview on the What Bitcoin Did podcast, Held says current events and conditions are serving as the perfect storm for Bitcoin.
“I think in the super cycle thesis we have the perfect storm, an even more perfect storm than 2019. So much has happened. I think COVID has given us good reason to doubt our government’s ability to handle different parts of our economy and our lives and with all the money printing gone down too. Bitcoin’s usefulness has never shone brighter. We also have Canada and geopolitical battles around the world which I think highlights exactly why bitcoin is valuable right now.”
Held says events that instill distrust of the government happen in a very short period of time, leading people to consider the possibility of obtaining crypto assets.
“I think we’re seeing a lot of people get into that consciousness phase and maybe some more catalyst moments or shocks in the economy or a war will shake them into the acquisition level where they start to get good, I thought about it. I’m ready now, I’m ready to sign up. I’m ready to try Bitcoin.
They have to get into these stages before they can start buying bitcoin and the price of bitcoin starts to go up so I think we have a lot of people ready there and there is a certain type of events that I don’t know exactly what those events might be or narratives, but those might push all of these people down the funnel and that means direct price action, the price is going up.”
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Source: Crypto News Deutsch