Declaration of love from TradFi. When Michael Saylor talks about Bitcoin, he is told that his speech is biased because he is judge and party and that he owns too much of it to be honest. When the crypto press talks about Bitcoin, they are told that they are preaching for their own parish and that they are not credible. All right. But suddenly, when traditional finance boomers talk about it, what’s in their interest? Because more and more of these investment specialists recognize that the first crypto on the market has some serious arguments to make and that it deserves our interest, or even a small investment ( or a large) piece. This is the case of the boss of BlackRock as well as that of VanEck, a specialist in ETFs of all types, who made a declaration of love for Bitcoin live on American television.
Jan Van Eck rolls out the pro Bitcoin arguments on American television
Last Saturday, the guest of the show The Exchange on CNBC was Jan Van Eck, the CEO of the eponymous company and Kelly Evans, the presenter, asked him what he thought about Bitcoin in general, but also about the idea that it could be this famous store of value that we talk about so much. This part of the show lasts a little over two minutes, but it has already been shared tens of thousands of times because the leader’s response was so clear, clear and relevant.
He first recalled that historically, the company founded by his father in the 1950s was one of the first to offer a gold ETF because “this type of product is part of the company’s DNA”. Here he talks about gold as a store of value and draws an obvious parallel with Bitcoin, since he then explains that he inquired, that he read, that he listened and that he came to the conclusion that the first cryptocurrency on the market could be a good complement to the yellow metal. To the skeptics who don’t believe it, he replies that things change and that the truth of one day is not necessarily that of the next.
He cites as an example China which, just 30 years ago, was mainly industrially underdeveloped and which is now essential in the international landscape. For him, “Bitcoin is the obvious asset that is growing before our eyes” !
Store of value and asset of the future, Bitcoin really appeals to this manager
Kelly Evans agrees and indeed recognizes that recently, this asset has behaved like gold and therefore like a store of value, but she would like to know if Bitcoin could not suddenly be replaced, dethroned by another crypto of the same type ? Or what if regulation couldn’t bring it down?
Jan Van Eck replies to him while approximately 50 million people already use Bitcoin and this creates “an undeniable network effect that works in its favor”. The CEO can’t really imagine that another technology would do it anyway. “replaces as a store of value on the Internet”. As for the regulation and criminal charges surrounding the use of Bitcoin, his answer is rather honest and it will please crypto fans! With a half smile, he would advise TradFi against throwing the first stone on crypto since it seems presumptuous to assert that“no bank or financial institution has ever been involved in anything illegal”.
Finally, he ends by explaining that the macroeconomic situation currently gives pride of place to gold and Bitcoin, because investors would be looking for assets which do not necessarily perform, but which will rather protect savings in the face of the inflation and devaluation of national currencies. We won’t hide the fact that it’s a pleasure to hear this kind of speech coming from recognized figures in traditional finance and who therefore cannot be accused of self-serving proselytism. That said, VanEck could soon offer a spot Bitcoin ETF and thus join the gang of laser-eyed businessmen!