The post Bitcoin Faces ‘Nation-State Rug Pull’ Risk, Warns Willy Woo appeared first on Coinpedia Fintech News
Bitcoin might be the “perfect asset” for the next millennium, but according to veteran Bitcoin analyst Willy Woo, perfection isn’t enough. Without massive capital inflows, systemic risks could keep BTC from ever rivaling the US dollar or gold.
Speaking at the Baltic Honeybadger conference in Riga, Woo didn’t hold back:
“You don’t get to change the world unless this monetary asset – in my opinion, the perfect asset for the next thousand of years – does its job. And it can’t do its job unless capital flows in and gets big enough to rival the US dollar.”
Right now, Bitcoin’s $2.42 trillion market cap is just a fraction of gold’s $23 trillion and far behind the US dollar’s $21.9 trillion money supply. The gap, Woo warns, reflects structural vulnerabilities that could hit hard in the next downturn.
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