21. co CEO: Silvergate’s dilemma and the closure of SEN have no material impact on Bitcoin
According to reports, Hany Rashwan, CEO of cryptocurrency company 21. co, said that the difficulties of Silvergate Bank, including the closure of its cryptolending platform SEN, would not necessarily affect the price of BTC. On the contrary, the recent price level is attributed to macroeconomic factors. The story of Silvergate has not yet been determined, but the price performance of BTC is now affected by macroeconomic factors, and inflation is still rampant. I think we haven’t got out of the trouble yet. We will continue to see interest rates rise, but it is really difficult to show whether the market has put its price in.
Interpretation of this information:
The message discusses the possible impact of Silvergate Bank’s difficulties on the price of Bitcoin (BTC). Hany Rashwan, CEO of cryptocurrency company 21. co, believes that the closure of Silvergate’s cryptolending platform SEN may not necessarily affect BTC’s price as macroeconomic factors, such as inflation, are currently influencing it. Rashwan noted that although interest rates are expected to rise, it is uncertain whether the market has already reflected this change in BTC’s price. Therefore, while the outcome of Silvergate’s situation remains to be seen, BTC’s price performance will likely continue to depend on macroeconomic factors.
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