On the afternoon of March 12, Babbit Sheknows hosted an online interview on the theme "What if the global economic crisis, what about blockchain?" Cao Yin, managing director of the Digital Renaissance Foundation, said that the recent logic of Bitcoin's performance is the same as that of gold. There is an influx of funds and an outflow of funds. However, at present, BTC is still a high-risk asset to most investors, and is affected by the herd effect. Therefore, recent short-term hype funds have flowed out.
He also pointed out that from a logical point of view, the hedging nature of BTC lies not in its value stability, but in its risk irrelevance, that is, the fundamentals of the external world are not related to BTC, a native asset of the digital world. Unlike crude oil, metals, and stocks, BTC is not affected by external supply and demand and profit fundamentals. Therefore, it is optimistic that BTC can quickly return to the average after this shock. Live link: http://t.cn/A6z4G7tS