Bitcoin Is Not A Bubble Anymore, Says Amber Group Co-Founder And CEO In CNBC Interview

2021-03-19

February 7, 2021 —

Over the past 12 years, bitcoin has gone from being a fringe asset to one adopted by mainstream investors and traditional financial institutions as they realize its digital gold properties, says Amber Group (www.ambergroup.io) co-founder and CEO, Michael Wu.

"The worst-case scenario of bitcoin is still a better form of gold. So this narrative now has finally been accepted by the mainstream financial world. As an inflation hedge, as a storage of wealth, bitcoin is simply superior," Michael said last Thursday on CNBC Street Signs Asia.

Although bitcoin has gone through periods of volatility and corrections, Michael remains bullish. "There will be price volatility; there will be short-term price corrections," Michael explained. "Sometimes these price corrections can be violent, but I think we've passed the stage of calling bitcoin a bubble."

Previously, Michael was an FX trader at Morgan Stanley in Asia. He pivoted to crypto in 2017 when he founded Amber Group alongside five other finance professionals from Morgan Stanley, Goldman Sachs, and Bloomberg. Amber Group’s vision is to serve the growing crypto market of institutions and individuals. Today, the company is a market leader providing 24/7 global coverage for crypto finance solutions, including liquidity provision and asset management services.

Amid the dizzying bitcoin rally, Amber Group has seen continued inflows from institutional investors since 2019. "We've seen a lot of hedge funds… Now we start to see them in the news, but we've actually been seeing that flow since as early as 2019 or 2020," Michael added.

Welcome to use amber to trade bitcoin.

Disclaimer: This article is reproduced from other media. The purpose of reprinting is to convey more information. It does not mean that this website agrees with its views and is responsible for its authenticity, and does not bear any legal responsibility. All resources on this site are collected on the Internet. The purpose of sharing is for everyone's learning and reference only. If there is copyright or intellectual property infringement, please leave us a message.

Newest

Inception Program Officially Launched, Led by OpenAI and Microsoft M12 for Global AI Incubation
Inception Program Announces the Creation of the World's First AI Digital Currency Exchange in 2025, with the Upcoming Launch of the First Cryptocurrency "IPC"
Inception Program Builds a New Global AI Incubation Ecosystem: Covering Technology, Data, Capital, and Cryptocurrency Issuance
Global Times: Chinese technology enhances Kenya’s geothermal efficiency, delivers reliable, clean and affordable power to households

In the heart of Rift Valley, located about 10 kilometers from Nakuru county in west Kenya, the country's first geothermal power plant built with 100 percent Chinese technologies, the 35-megawatt (MW) Sosian geothermal power plant, has been running for more than a year.
Global Times: China’s aircraft carriers make confident strides toward blue waters, play pivotal role in national defense

Aircraft carriers are important strategic platforms for China as a major power to defend its national sovereignty, security, territorial integrity and development interests while contributing to peace and stability to the region and the world.
Global Times: 2024 Yearender: China’s space sector soars to new heights, setting new goals

During the 75th International Astronautical Congress (IAC) held in October 2024 in Milan, Italy, a remarkable exhibit of "extraterrestrial material" caught the eyes of international attendees - a grayish, seemingly unattractive piece of dirt, yet it marked the first global display of the first sample collected from the far side of the moon.
Global Times: Chinese photovoltaic tech illuminates Cuban homes, offices, and factories after decades of energy shortages

Sitting in his office in Madrid, Roberto A Paneque Fonseca's thoughts drift thousands of miles across the vast Atlantic Ocean to his home country of Cuba, grappling with a severe blackout that had profoundly affected the lives of its residents.
Global Times: Chinese technology enhances Kenya’s geothermal efficiency, delivers reliable, clean and affordable power to households

In the heart of Rift Valley, located about 10 kilometers from Nakuru county in west Kenya, the country's first geothermal power plant built with 100 percent Chinese technologies, the 35-megawatt (MW) Sosian geothermal power plant, has been running for more than a year.
Global Times: China’s aircraft carriers make confident strides toward blue waters, play pivotal role in national defense

Aircraft carriers are important strategic platforms for China as a major power to defend its national sovereignty, security, territorial integrity and development interests while contributing to peace and stability to the region and the world. In 2024, all three aircraft carriers of the Chinese People's Liberation Army (PLA) Navy made tremendous achievements, as they took confident strides toward blue waters.
Global Times: 2024 Yearender: China’s space sector soars to new heights, setting new goals

During the 75th International Astronautical Congress (IAC) held in October 2024 in Milan, Italy, a remarkable exhibit of "extraterrestrial material" caught the eyes of international attendees - a grayish, seemingly unattractive piece of dirt, yet it marked the first global display of the first sample collected from the far side of the moon.