{"id":134963,"date":"2024-08-06T14:00:54","date_gmt":"2024-08-06T11:00:54","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134963"},"modified":"2024-08-06T11:21:47","modified_gmt":"2024-08-06T08:21:47","slug":"tezos-co-founder-slams-bitcoins-store-of-value-claim-as-market-crashes","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/tezos-co-founder-slams-bitcoins-store-of-value-claim-as-market-crashes\/","title":{"rendered":"Tezos Co-Founder Slams Bitcoin\u2019s Store of Value Claim as Market Crashes"},"content":{"rendered":"<p>In an August 5 <strong><a href=\"https:\/\/www.cnbc.com\/video\/2024\/08\/05\/bitcoins-narrative-as-a-stored-value-is-being-decimated-as-we-speak-says-tezos-kathleen-breitman.html\" target=\"_blank\" rel=\"nofollow\">interview<\/a><\/strong> with CNBC\u2019s \u2018Squawk Box,\u2019 Breitman highlighted Bitcoin\u2019s recent <strong><a href=\"https:\/\/cryptodnes.bg\/en\/bitcoin-price-crashed-below-50000\/\">dip below $50,000<\/a><\/strong>, attributing it to broader market anxieties. She identified fears of a global recession and a significant sell-off in Japanese equities as key factors intensifying the market\u2019s decline.<\/p>\n<p>Breitman also linked the downturn to ongoing geopolitical tensions and recent Federal Reserve interest rate adjustments. Additionally, she noted rumors of substantial liquidations by Jump Trading, which have added further pressure on <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin\u2019s price<\/a><\/strong>.<\/p>\n<p>Commenting on the situation, Breitman criticized Bitcoin\u2019s role as a store of value, describing it as \u201cinternet pretend money\u201d in light of its speculative nature. She compared the current market reaction to early COVID-19 disruptions, where economic uncertainty led to the rapid sale of perceived speculative assets.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/fed-should-cut-rates-by-0-75-immediately-according-to-expert\/\" title=\"Fed Should Cut Rates by 0.75% Immediately, According to Expert\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/12\/fed-rates-1-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Fed Should Cut Rates by 0.75% Immediately, According to Expert<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>While acknowledging Bitcoin\u2019s volatility, Breitman believes it remains a fundamental asset within the cryptocurrency space. She maintains that Bitcoin\u2019s value and utility extend beyond the conventional store-of-value narrative, despite the ongoing market fluctuations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tezos co-founder Kathleen Breitman has voiced concerns about Bitcoin\u2019s status as a reliable store of value amid the recent cryptocurrency market downturn.<\/p>\n","protected":false},"author":3,"featured_media":87996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-134963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tezos Co-Founder Slams Bitcoin\u2019s Store of Value Claim as Market 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