According to Chris Burniske, a crypto expert and investor, the banking crisis is good for cryptos as it highlights the need for alternate money and payment methods, driving up demand for coins.
Chris Burniske, the co-founder of Placeholder, spoke out about how the current banking crisis affected the crypto industry. He said that despite short-term market volatility, it was ultimately constructive for the long-term prospects of cryptos.
Burniske claimed that as consumers were losing faith in conventional financial institutions, the banking crisis might result in a rise in the adoption of cryptos. He contends that decentralized alternatives to traditional banking, such as cryptos, can be more dependable and secure during emergencies.
In addition, Burniske talked about the industry’s recent legal battles. He stressed the importance of knowing the real story behind open data and cryptography. He said they would ultimately prevail, giving the digital future a strong foundation.
In his opinion, our society’s challenges can be solved using blockchains and other essential infrastructures like AI.
Burniske, however, voiced alarm over a potential disinflation brought on by the banking crisis. He asserts that it might result in a drying up of credit and is more likely to happen than hyperinflation.
He argued that while this may present immediate difficulties, it will ultimately provide central banks with cover to cut interest rates, benefiting the growth of companies and cryptos.
Burniske’s viewpoint is shared by many in the crypto community who think that the current financial system is ready for disruption and that crypto is well-positioned to play a significant role in the future of finance.
While risks and difficulties are undoubtedly associated with investing in digital currencies, Burniske’s perspective is supported by many in the community.
Source: https://crypto.news/crypto-venture-firm-founder-says-banking-crisis-makes-crypto-bullish/