Money has three functions: 1) Store of Wealth 2) Unit of Account and 3) Means of Exchange
Bitcoin covers all three partially, but making progress on the most important -> store of wealth.
In these difficult geopolitical times, money is flowing into Bitcoin and cryptocurrencies. Bitcoin’s allure as a shield against government intervention attracts ever more capital.
That is why Bitcoin’s price has risen year to date. Bitcoin seems to be taking over part of gold function as a safe haven.
But more importantly people are using Bitcoin, cryptocurrencies as a clandestine way to store and transfer wealth out of hot arenas of geopolitical conflict.
In the short term, Wolfteam Ltd.’s view is that geopolitical tensions will only increase, so Bitcoin’s intrinsic value is to rise in the short-term, according to Wolfteam Ltd.
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