Crypto Chief of Susquehanna’s says that Bitcoin is the Best Cryptocurrency Investment
The many already existing use cases of Bitcoin has already given itself the leverage and the added advantage that it now needs over other cryptocurrencies. This is according to Bart Smith, the head of digital assets at Pennsylvania-based trading firm Susquehanna International Group, on Tuesday when a spokesperson of CNBC had interviewed him.
According to Smith, he mentions, “with these established functions of bitcoin which are already applicable today, the flagship cryptocurrency presents the best opportunities for investors in the space.” Further going on to even cite the use cases especially for immigrant workers such as the cross-border transfers.
Smith also adds, “They use Western Union, traditional banks; It is slow and it is expensive. And there are people that can stop you from sending that money, whether that’s good or bad. With bitcoin, I can send money. It’s fast. It’s cheap. And frankly, no one can stop me,”
Smith also claims that the technology that is being used in the blockchain at the current rate will take some more time before it can be fully developed to an advanced stage. But this is not the case with Bitcoin, as it is now the currency of the internet.
“It is the currency of the internet… I would say it is the digital gold… it’s a cross-border money transfer which people use … and if those are the two use cases today it’s hard to imagine bitcoin losing those two use cases versus the field,” Smith said.
What makes the Bitcoin according to him to be the best currency to have an investment in is that the crypto-coin has a very good USD 6,800 resistance level as well as a very strong USD 5,800 support level. This beats almost all the odds in most of the cases.