Putin’s Academy Analyst: “Bitcoin (BTC) Doesn’t Need To Be Priced In Fiat”
Bitcoin has received praises from
numerous personalities over the past decade, mostly due to its decentralized
feature that takes away power from centralized authorities placing it in the
hands of the people. The latest to praise Bitcoin is Vladislav Ginko, an
analyst at the Putin Academy.
Bitcoin Is the Alpha and Omega of Valuation
Vladislav Ginko notes that Bitcoin doesn’t
need to be priced in fiat as any asset that undergoes that usually gets
corrupted. Through a tweet, he raises his
concerns: “everything being priced in
fiat gets corrupted, biased and unjust value. Bitcoin doesn’t need to be priced
in fiat. Bitcoin is alpha and omega of just valuation of any asset in the world.”
The analyst further argued that BTC
is currently the most valuable asset in the world. Thus, he doesn’t see the
need for people to sell the cryptocurrency for any price just to get dead
assets such as fiat currencies. He adds that the only time it is okay to sell
Bitcoin is if one has a way of receiving it back.
He went on comparing Bitcoin to
Noah’s ark, adding that the most valuable coin is governed by an invisible
hand. The best part about Bitcoin is that no central body has the authority to
control it. That is exactly what a Twitter user, Blockchain guide, says: “Imagine that the USA doesn’t like it that
Russia could avoid sanctions by buying BTC. The USA could manipulate the price
of Bitcoin or negatively regulate Bitcoin to take the potential financial power
away from Russia. I don’t like that.” His view had the attention of Ginko who
replies saying US or any other
nation doesn’t have the power to stop Bitcoin’s proliferation and growth.
The Russian is super bullish on
Bitcoin and is confident that a 51 percent attack or a majority attack cannot
happen on Bitcoin’s blockchain as there are some influential people that would
guard the network against any potential attack.
Bitcoin Is Better Than Gold
Aside from resistance censorship and
its decentralization, there is an ongoing debate as diehards of Gold and
Bitcoin pits against each other laying out reasons why their preferred asset is
a better store of value. If anything, both assets have had arguments for and
against them and Ginko threw his hat in the ring, casting his vote in favor of
In his opinion, Ginko believes that
Bitcoin is better than gold and he gave six reasons why. He listed the reasons as; 1 — almost 0 transaction costs,
2. Safe storage, 3. Censorship resistance, 4. Bitcoin is more liquid than gold,
5. Only one Bitcoin is a perfect capital accumulation for a future pension, and
6 — your bank.
To further support his argument,
Ginko provided some set of data against gold. He tweeted that gold has been losing value
over the past three years. “Three years
of consecutive losses of gold, on a year-to-year basis; 2013 -28.3 percent,
2014 -1.4 percent, and 2015 -10 percent. Bitcoin has never demonstrated such
long streak of loss,” he added.
The Bitcoin price peaked in December
2017 but plunged by roughly 80 percent last year during the so called frigid
crypto winter. Despite the price decrease, the community is optimistic,
believing in the revolutionary and disruptive value of Bitcoin. It couldn’t
come at a better time. There is renewed optimism that the bear cycle is over
and a bull run thrusting prices back to $8,000 is underway.