Standard Chartered Says Bitcoin Must Hold the Line for DeFi to Beat TradFi | US Crypto News
Standard Chartered's Geoff Kendrick stated that Bitcoin's structural soundness is crucial for Decentralized Finance (DeFi) to eventually replace Traditional Finance (TradFi).Summary
Geoff Kendrick, Head of FX and Digital Assets Research at Standard Chartered, emphasized that the future success of Decentralized Finance (DeFi) in overtaking Traditional Finance (TradFi) is fundamentally dependent on Bitcoin remaining structurally sound as the 'apex asset.' Kendrick warned that a major collapse in Bitcoin would undermine the entire digital finance movement. His comments, made ahead of the Singapore FinTech Festival, shift the focus from Bitcoin's price speculation to its systemic importance. Kendrick also provided a three-step accumulation plan for investors, suggesting that recent dips below $100,000 might be the last opportunity, contingent on Bitcoin closing above $103,000 and the Bitcoin-gold ratio exceeding 30.
(Source：BeInCrypto)