Steve Forbes, editor-in-chief and family member of the Forbes magazine founders called bitcoin and other cryptocurrencies a protective tool against the unstable economic policies of states.
In an interview with the American Center for Natural and Artificial Intelligence, the businessman noted that cryptocurrencies have become a technologically advanced “cry for help”. They become relevant when governments resort to free loans and quantitative easing to restore the economy.
Forbes noted a number of Bitcoin flaws. He believes that limiting emissions to 21 million BTC is Satoshi Nakamoto’s erroneous move. The businessman said that money is needed to facilitate trade, and not control the economy. To the current minuses of cryptocurrency, he attributed the high price volatility.
Forbes is sure that mass adoption of BTC is impossible without a fight with politicians and regulators – they will never allow cryptocurrencies to spread as widely as possible. Instead of solving this problem, he now called for focusing on the development and launch of new infrastructure elements.
He added that Bitcoin needs to become “extremely simple” in order to outgrow the status of a crisis currency. It is also needed to develop volatility control tools for the entire digital asset market. Until this happens, the businessman assumes the dominance of stablecoins over other cryptocurrencies.
In the end, Forbes remembered the digital currency Libra from Facebook and a hypothetical analog from Amazon. In his opinion, such projects can lead the cryptocurrency market.
Recall that last year, Steve Forbes called Bitcoin a serious threat to governments. Previously, he supported the Libra project and admitted that the digital currency of Facebook could overshadow not only the US dollar but also bitcoin.