Florian Koschat emphasizes that buying Bitcoin is a matter of principle, not timing.
Carinthia, Austria, January 20, 2021 (GLOBE NEWSWIRE) – With so many changes going on around us, it is important to note that the financial industry has also seen in recent years, thanks to the many great revolutions, redefinition of moments created by the advent of Bitcoin and cryptocurrencies are caused and forced people to learn more about it and also to accept it as the best revolutions in the financial world. When we talked about it and shared his views on Bitcoin, we got in touch today with the Austrian entrepreneur and investment banker Florian Koschat, who is also an author and senator in the Economic Senate.
Florian Koschat explains exactly what Bitcoin is and says that it is not just a currency, but an asset class to protect value. Bitcoin serves as the most modern asset class and is increasingly used for payments and transactions. He goes on to explain that the hype that Bitcoin has seen in the past few years, and especially right now, is that it is extremely secure and also limited in number. It offers several benefits including anti-counterfeiting, limiting, and decentralization, proving why Bitcoin is even better than gold.
Florian Koschat points out that while there are other cryptocurrencies besides Bitcoin, they may not benefit as he believes that due to their limitation and other technical advances they make every day, none of them keep growing and rising keep up with Bitcoin. He also believes that other cryptocurrencies will definitely be used, but not as a new asset class with unique selling points like Bitcoin.
When asked about the highs and lows of Bitcoin in the financial markets, where it rose to almost 17,000 euros at the end of 2017 and then fell again, Florian Koschat said that many factors lead to this rise and fall in the market. As Paypal showed interest in making cryptocurrencies, especially Bitcoin for all masses. This opened the door to Bitcoin for institutional investors. It was followed by Michael Taylor, who invested nearly $ 1 billion in Bitcoin. The current pandemic has also sparked fears of inflation, and Bitcoin is the best solution and protection for it.
However, Florian Koschat also believes it won’t replace currencies like EUR. The abolition of cash is on the way, but it is likely that an e-euro; ie a digital euro will enter the markets. Regarding the price, the leading investment banker says that many banks and analysts see a price in excess of $ 100,000 in the medium term. Some others say it will reach $ 500,000 but the entrepreneur says there is still a long way to go.
Finally, Florian Koschat emphasizes that buying Bitcoin is a matter of principle, not timing. He explains that if people believe in Bitcoin and share the opinions of the pros, the starting price shouldn’t be a big problem. People can also buy tranches and thus capture cheaper and less favorable entry moments. However, people also need to know that there are sharp corrections on the way up as well. The Austrian entrepreneur himself has personally invested in Bitcoin, holding a wallet at BITPANDA and Bitcoins directly.
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