Why bitcoin is more stable than the dollar and what will ensure its development in the future

Whereas previously they were mainly on the sidelines, debating within their narrow communities, they are increasingly speaking out publicly. They put the sign of equality between the cryptocurrency and the US dollar. A few years ago, this was just a dream, and now the CEO of the renowned BlackRock investment company Larry Fink openly states that bitcoin could become one of the leading assets in the global financial sector in the future.

At the same time, Fink clearly said that the BTC is able to bypass the US dollar by market capitalization. He also recognized that the development of cryptocurrencies contributes to the democratization of financial infrastructure, with which there is no dispute – crypto-investors are not obliged to go through the sieve of merciless banking financial monitoring.

Why is it so important when Larry Fink's level executives say things like that? Not only because of their experience and authority in the marketplace, because of which they are listened to by many. But also because the statements of the executives of BlackRock and other major financial institutions are perceived as free financial advice. And for many private investors, it is practically a guide to action. It turns out that Fink talks about the increase in the capitalization of the battle and himself stimulates this capitalization with new investments of his fans.

However, it is not only BlackRock that believes in cryptocurrencies, but also global investment giants such as Morgan Stanley and Goldman Sachs. This trust and regular investment by banks, their financial institutions, and their clients ensures the stable support and growth of bitcoin and other coins.

Equally important is public political support, which I have repeatedly stressed and will not tire of repeating. An invaluable contribution was made by Democratic presidential candidate Robert F. Kennedy, Jr. (nephew of the 35th US president), who delivered an impressive speech at a major conference in Miami in May 2023, and in July announced plans to support the stability of the dollar and the US debt market with bitcoin. Some were skeptical of his support, but they were immediately recalled when in August Fitch stripped the United States of its AAA rating for the first time since 1994, downgrading it to AA+. Many remembered Kennedy's words of support.

It is nice to see that the democrat sincerely believes in the cryptocurrency market, and does not stop talking about it, contributing to its development as much as he can. The other day, for example, Kennedy Jr. reported that he bought his seven children 14 bitcoins — 2 each. Pointing out that he did so under the impression of the conference in Miami. Besides, he promised to accept BTC donations for his presidential election campaign.

Interestingly, at about the same time, bitcoin received support from another political camp of America, the Republican Party, which also has a positive effect on the crypto-market. Regardless of their political beliefs, investors see that those in power speak out in favour of promising assets. Republican Ron DeSantis, a candidate for US president and governor of the state of Florida, said that he is ready to allow Americans to freely (and without restrictions) buy BTC and other cryptocurrencies. He said that people "can do it if they want to."

Positive news arrived from other countries as well. For example, in Costa Rica, a bill has already been drafted that, if adopted, will make bitcoin a legal means of payment. This is a historic moment for Costa Rica and Central America as a whole. Neighboring El Salvador was the first country to legalize the coin in 2021, and Costa Rica could become the second such country.

For example, Hong Kong issued its first license for retail trading of cryptocurrencies last week. The license was granted to the crypto HashKey Exchange, which announced that it would offer two services – securities trading and automated trading. The platform will be a pioneer in the region.

Such news feeds the crypto-market, helping it move forward. Hence, capital will increase, new instruments will be developed, and in the future, they will support dollars and other fiat currencies. High technology along with new developments and increasing popularity will enable it to deliver. What the crypto market needs is to understand society and support the authorities. It is very important not to hinder development, not to put sticks in the wheels. In this way, the free market will align everything for itself and customers, and will become the future basis for the world economy growth.