CZ: There is no battle between cryptocurrency and legal currency

According to reports, Carstens, the head of the Bank for International Settlements, said that the French currency had won the battle with cryptocurrency. Mike Novogratz, the chief executive of Galaxy, said that it was too opinionated. In the past decade, the tons of French currency had depreciated by more than 50%, while BTC and ETH had appreciated a lot. CZ, CEO of Coin Security, believes that there is no battle between cryptocurrency and legal currency, and technology does not fight anyone. Use it if you like it, don’t use it if you don’t like it. That’s it, but more and more people will use encryption… It’s worth waiting.

Interpretation of this information:

The head of the Bank for International Settlements, Carstens, has declared that the French currency has emerged victorious in the battle against cryptocurrency. This statement has been met with skepticism by Mike Novogratz, the chief executive of Galaxy, who believes it is too opinionated. Novogratz points out that while the French currency has depreciated by over 50% in the past decade, Bitcoin (BTC) and Ethereum (ETH) have experienced significant appreciation.

However, CZ, CEO of Coin Security, takes a different standpoint, stating that there is no battle between cryptocurrency and legal tender. CZ believes that technology is neutral and does not fight anyone. He asserts that people should use cryptocurrency if they like it and avoid it if they don’t. CZ predicts that more and more people will begin to adopt encryption, and it is worth waiting.

In contrast to the traditional fiat currency, which is backed by the state, cryptocurrency is decentralized, meaning there are no banks or governments monitoring or regulating it. The decentralized nature of cryptocurrency has created several advantages over traditional currency, including transparency, low fees, faster transaction speeds, and providing users with financial sovereignty.

In conclusion, the views on the competition between cryptocurrency and legal tender vary among experts in the field. While Carstens claims that French currency has won, Novogratz believes it is premature to make such a statement, given the volatile nature of cryptocurrency. CZ believes that technology is neutral and that people should use cryptocurrency if they find it useful. In any case, it appears that more and more people will begin to adopt cryptocurrency regardless of what the experts say.