.novogratz hits back at Carstens's comments on the superiority of fiat currencies, stating that he has 'ignored the facts' about Bitcoin and Ethereum
Travis Kling, founder of crypto investment firm Ikigai Asset Management, also weighed in on the debate, saying that Bitcoin hasn't acted as a store of value and has instead acted like an unprofitable software-as-a-service stock.He added that stablecoins are far and away the use case for crypto that has gained the most traction, but that's not exactly a trophy for crypto over fiat as it's crypto facilitating access to fiat, specifically the greenback.
He added that none of the other cryptocurrencies on the horizon are even in the conversation and that none of them are trustless. Kling also pointed out that the crypto market has been battered by fraud and bad actors, and that regulators have the market by the balls, adding that there is no political goodwill in the U.S. to effectively fight back.
He said that if the crypto market keeps shooting itself in the foot with the same bullets cycle after cycle, Carstens will be making the same speech five years from now.
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