During a recent interview with Bloomberg TV, one of the leading players in the cryptocurrency industry, Bobby Lee, expressed his confidence in the future of Bitcoin.
After enduring an entire year-long bear market that pushed bitcoin as low as $16,000, Lee believes the cryptocurrency market is finally about to break through the long bearish pull.
In an interview with the BTCC creator, it was said that the digital currency is now making a comeback and regaining momentum. According to him, it was a long time before this happened again.
“So cryptocurrencies have these four-year cycles now, we’ve actually recovered some of our losses. So, it’s very exciting.”
BTCC Creator: Bobby Lee
In his second line of defense, Lee stated that bitcoin should be seen as a financial haven compared to traditional forms of fiat currency.
According to me, during the financial crisis, people realized that when their money is not in the bank, it is not constantly there as it is being loaned out to other companies or businesses. In contrast, Lee believes, cryptocurrencies such as bitcoin provide stability for self-custodianship, enabling people to manage their finances and control their assets completely.
Bobby Lee is happy with the United States and Hong Kong
The visionary entrepreneur who founded the first Bitcoin exchange in China also gave his thoughts on the current regulatory climate, claiming that the regulatory environment in the United States is more developed and stable than any other country.
“We recognize that the regulatory system in the United States is the oldest and most mature in the world.”
BTCC Founder: Bobby Lee
And he is pleased to see progress in the United States after advocating for tighter regulation for more than a decade. He feels that institutions like the Securities and Exchange Commission are crucial to combating illegal fundraising.
Lee was also excited about Hong Kong’s adoption of cryptocurrency legislation, highlighting the global movement towards greater acceptance and control of digital currencies. Lee’s comments reflect the global shift towards more approval and oversight of digital currencies. He noted his excitement about the regulatory embrace of cryptocurrency in Hong Kong, which he agreed with.
He concludes that the cryptocurrency industry is beginning to stand up, and the regulatory framework is advancing, indicating that the future of Bitcoin and other cryptocurrencies is likely to continue to rise.