Can Bitcoin play its role as a trading currency?

In an interview recently received CNBC Squawk Box, Galaxy Digital CEO (CEO) Michaelnovogratz was published as a future of comparison as an asset. This CEO believes that with more and more institutions flood into this area, the volatility of the asset will become smaller and smaller, and pointed out that this is already in happening.

Noviggraz said: “I really think that the volatility of Bitcoin is declining. If you look at the contrast of Bitcoin and the EDU and other replacement coins, the volatility of Bitcoin is much lower.” He pointed out that volatility The reduction is also the result of investors seeking gains to choose to invest “Other Potential Currency”.

The GalaxyDigital executive disclosed during an interview, he believes that Bitcoin will not be used frequently, and will eventually be used as a value store. Novoglaz believes that this model will be staged in countries where inflation is serious.

Novoglaz emphasized, “I don’t think Bitcoin will become a trading currency. I think it is more suitable as a tool for value storage. He believes that this will happen regardless of the development of the lightning network. Lightning network is often considered to be a response to Bitcoin to be effective as a currency. The lightning network is a protocol layer built on the Bitcoin block chain, which is considered to make the transaction faster, cheaper. “

In addition, Novigraz pointed out that the energy consumption rate of Bitcoin is exaggerated by the market. He said that the network uses 0.17% of global energy, even less energy consumed than Christmas lights.

His comments are in response to a statement, that is, although the block chain technology exists, but due to the energy crisis, another block chain will replace the bitcoin position. Novo Glaz added that as people began to turn to green energy from fossil fuel, the bitcoin digitors are increasingly using green energy.

On the other hand, the ecosystem is discussing the potential for nuclear exploitation Bitcoin, and Salvador has seized the initiative and began to exploit the geothermal energy to exploit the Bitcoin. It is reported that some miners are also taken to exploit the encrypted currency using combustible gases, which is called an energy-saving process.