Bitcoin could be the impetus that leads the fourth industrial revolution, says Rainer Michael Preiss from Singapore-based Taurus Wealth Advisors.
Over the past few months, bitcoin’s value has ballooned significantly, the numerous geopolitical events have not hindered the rise.
According to a report from «Bitcoin.com» a Singaporean wealth advisor claims bitcoin is more than just an investment vehicle because it has the beneficial attributes that could lead to an alternative financial system.
The executive director of Taurus Wealth Advisors, Rainer Michael Preiss, recently told CNBC’s «Capital Connection» that bitcoin could aid the global economy that is seemingly getting worse every day with debt burden. According to Preiss, the financial system worldwide is based on debt which has led to quantitative easing and too much debt and too little growth.
Bigger Than Deutsche Bank
When Preiss was asked about individuals and organizations using bitcoin for illegal activities like ransom ware he admitted the concerns were valid.
Preiss pointed out that illicit activity using the dollar compared to the concerns about bitcoin were minuscule.
To back his claim up he pointed to the fact that bitcoins are fully traceable via a public blockchain whereas the greenback was not.
«Bitcoin’s market capitalization overtook Deutsche Bank just as of last week, so that shows you how to some extent the world and things are changing,» added Preiss.
