Bitcoin Foundation says that 'Bitcoin is the Pin to Pop Global Finance Bubble'

Bitcoin Foundation founding member Jon Matonis expresses his views on the current crypto market

Ramy Caspi
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Jon Matonis, who is an economist and Bitcoin Foundation founding member has stated his belief in Bitcoin’s future last month.

In an interview with BusinessInsider, Jon expressed his views with the journal about the ‘bubble’.

“To the people who say bitcoin’s a bubble, I would say bitcoin is the pin that’s going to pop the bubble. The bubble is the insane bond markets and the fake equity markets that are propped up by the central banks. Those are the bubbles”,

But yet, Banks are becoming interested in the currencies, and Matonis thinks that this is good for the tokens;

“I think it’s fabulous that they’re getting into it because it brings in new liquidity,” adding that it would assist to “mature the market and reduce volatility”

Jon was responding to statements that Bitcoin has had a rough start this year, from its highest valuations of $20,000 at the end of 2017 to current valuation of $7367.04 (up 6% in the last 24hours).

Jon argued that fiat is could be on its final chapter and that we were entering into a ‘post-legal-tender age” which would be powered by decentralised cryptocurrencies and not the traditional banking system.

Regulations should not be used to govern cryptocurrencies  “I think we should operate in an environment of caveat emptor: Let the buyer do his research. This hopefully has forced a lot of investors to do more research. No one is forcing them to invest in ICOs. If you’re worried about the risk, just walk away.”