Categories: Bitcoin Business

People Who Want to Control Their Capital Buy Bitcoin, Says Circle CEO

Click here to view original web page at

Jeremy Allaire, CEO at cryptocurrency financial services company Circle, expressed his optimism in regards to Bitcoin (BTC) being a safe haven for investors despite recent market volatility.

On Aug. 19, Allaire voiced his sentiment during the CNBC’s Squawk Box. He explained:

"Clearly, a non-sovereign digital asset like bitcoin is attractive to people who are interested in moving capital into a place where they can control it themselves. That underscores a lot of interest that’s been there over time. It’s the digital gold thesis, and I think a lot of both institutional accumulators of bitcoin, individuals, very specifically individuals in jurisdictions or environments where the intense concern about capital controls are there. That’s an underlying thesis that I think has had an impact on it for the last eight years."

Bitcoin price surge over $10K causing volatility

According to Allaire, recent market volatility might have been caused by people trying to make a profit following the month of growth. He notes that the "last week was a significant risk-off week for equities,” whereas before there were a lot of holders of digital assets whose broader portfolios were taking a hit.

Meanwhile, some profit taking is expected given Bitcoin’s impressive year thus far, according to Allaire, who notes:

“Obviously, Bitcoin is up over 100%, almost 200% over the past 9 months or so, that’s a place to take some gains as well. Depending on the type of holder, so to speak, you’re going to see slightly different behaviors during these market moves."

Cryptos continue to draw the world’s attention

The Circle CEO also noted that “crypto as an agenda item is absolutely on the docket.” According to him, digital assets are becoming a major global topic, and not only because of the continued growth of major coins like Bitcoin “but also the growth in stablecoins like USD Coin and Libra."

As reported previously, senior analyst at market strategy and sector research company Fundstrat Global Advisors, Tom Lee, is also confident that BTC already became a genuine safe haven for investors.

On Aug. 8, Cointelergaph published a report about the three main reasons why investors are increasingly considering taking shelter in Bitcoin.

On […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Everyone’s Worst Fears About EOS Are Proving True

The Takeaway: EOS is the world’s seventh-largest blockchain by market cap, with a value topping $3 billion since February 2019.… Read More

3 hours ago

Street Artist Makes $12,000 in Bitcoin Donations

A French street artist best known for painting lady liberty leading the yellow vests has stated he has received more… Read More

4 hours ago

Wave Financial Launches World-First Bitcoin Yield Fund: Wave BTC Income & Growth Digital Fund

LOS ANGELES, Sept. 19, 2019 /PRNewswire/ -- Wave Financial LLC (Wave), a leading asset management firm focused on digital assets,… Read More

4 hours ago

Nigerian man returns bitcoins worth $80,000

Keith Mali Chung returned Bitcoins worth $80,000 mistakenly transferred to him. A Nigerian man who found $80,000 dollar's worth of… Read More

4 hours ago

Bitcoin Surrenders Post Fed Rate Cut; Pullback Awaited

Bitcoin slipped below $10,000 on Thursday after the Federal Reserve cut benchmark lending rates by 25 basis points.The BTC/USD instrument… Read More

4 hours ago

Bitcoin Hashrate Hits All-time High as Price Dwindles

The benchmark metric of miners confidence in the Bitcoin network established its all-time high on Thursday.Hashrate, which reflects the processing… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More