Monday, December 6

Samy Dana recommends investing in Bitcoin “little”

Among the well-known names within the cryptocurrency community in Brazil, Samy Dana is one of the most talked about. After so many opinions against Bitcoin, which is what made him famous among cryptocurrency investors, Samy has now recommended (with reservations) investing in digital assets, something that certainly demonstrates his shift from investing in digital assets ( better late than never).

In his recent participation in the JP News, Dana was asked about Bitcoin, which is now at $65,000, and, as before, he proved not to have 100% confidence in digital currency, yet still much more measured compared to his past.

If we go back a little bit, exactly 4 years ago, Samy Dana spoke differently about Bitcoin. In your participation in the G1, she informed that the cryptocurrency market was not worth it: “I don’t recommend it, there is a risk, a very large fluctuation and the return ends up not compensating.”

“I do not recommend”

It is noteworthy that at the time he said this, Bitcoin was well below current standards, in fact, if someone had invested at that time, regardless of the price, today they would be in profit with at least twice the value of the currency, even if they had bought at the top of 2017.

On the occasion Dana also spoke about the biggest cryptocurrency not being a store of value like the dollar, or like the real (as it is). On other occasions, he has stated that the Bitcoin price is just a bubble. Of course, he ended up acknowledging the error after a while, legitimizing the coin.

“Whenever you’re in a mass vehicle, you won’t give a recommendation to invest in something risky, because you have people who don’t really understand the risk. Bitcoin is not a scam, it is a risky asset.”

“I recommend”

In her appearance on JP News, Dana spoke about the price of Bitcoin and what makes the currency have value, explaining that cryptocurrencies have their value in the law of supply and demand in the purest form, with many becoming positivists in the possibility of Bitcoin will replace money in the future, something Dana disagrees with:

“Some analysts establish a value for Bitcoin on the basis that in the future it will be a substitute for currencies and payment methods. But in that sense he didn’t go very far. It even proved resilient to the crisis (…), but as a form of payment, it’s not a fact.”

But the analyst offered a counterpoint to his own criticism, talking about the comparison of Bitcoin with gold.

“Another way to compare Bitcoin is to relate it to gold, which maintains its value because every year the amount of ore extracted is smaller than the base that already exists. In that sense, it looks like Bitcoin, the new currencies are produced at a pace 50% slower than the existing currencies.”, said the analyst.

The comparison with gold is classic in the cryptomarket, with Bitcoin itself being called “digital gold” on numerous occasions.

In the end, he stated that it is difficult to say what the value of Bitcoin and other cryptocurrencies is, or to know what the value will be in the future, but that “Bitcoin and other cryptocurrencies have advanced to become more and more present.”

“What I can indicate is: See if you have the profile, it’s a risky asset, it went up a lot and now these variables are at stake… Maybe investing little by little, in a regulated percentage, to feel, is a good tip .”

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