In a recent interview, highly respected equity research analyst and investment strategist Lyn Alden explained why she believes that Bitcoin is the best monetary network.
Alden, who provides equity research and investment strategies for clients, made her comments during an interview with Bitcoin advocate Peter McCormack for episode #549 of his “What Bitcoin Did” (WBD) podcast.
According to a report by The Daily Hodl, Alden said:
“I think the best way to describe money is either the most salable good, which is the more commodity-oriented view of money. I think that’s accurate. Another way to describe it is that it’s ledgers. Usually, ledgers correspond to commodity moneys in history, but they don’t have to, obviously in the current era. In that sense, the best ledger – the one that you can’t fudge the numbers, is not opaque – the combination of the best ledger with a hard unit of account in that ledger system is a pretty marvelous revolution.
“[Bitcoin] is basically faster than gold but more auditable and harder than fiat. It acts as its own decentralized transfer agent and registrar. It’s a marvelous technology.“
On June 20, Alden took to Twitter to explain why Satoshi’s “innovation is real.”
Here are a few highlights from her Twitter thread:
“Satoshi combined a number of existing technologies (the internet, Merkle trees, proof-of-work, SHA-256), added some tech of his own, and made something innovative. A breakthrough in accounting and money. What followed in his wake was mostly scams. But his is innovation is real…
“Satoshi never promised investment returns. He presented his idea like an academic thesis, and built it. When its use-case became popular, he was concerned, and was worried it was too early. Very conservative, very cautious. In it for the humanitarianism, not the money…
“I’m a conservative value investor. I mostly buy profitable companies that pay dividends. I’m big into commodities and real estate. I shun most unprofitable growth stocks (except for a few, small positions). Yet I buy bitcoin. True innovation. Very interested in its potential…
“Bitcoin could fail in a number of ways… But if bitcoin *doesn’t* fail, and continues to maintain key crypto market share, then watch out. Money is a zero-sum contest. Only the deepest, most liquid, most fungible, most portable, most un-censorable, and most resistant to debasement survive. Bitcoin is leading there…
“I have a diversified investment portfolio. Stocks, cash, bonds, gold, real estate, commodities, bitcoin. Bitcoin is the only one that I think could make a serious difference. Nobody else has a credible answer to the current global monetary problems. It’s a Boolean outcome.“
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