You’d probably need no introduction for Tone Vays, perhaps one of the most well-known institutional traders-turned-crypto geeks who has been making public calls on Bitcoin for years.

Vays, likely many traders who view market metrics in isolation, relies on a mix of the staunchest fundamental and technical analysis for his calls and has gained his following after being right on several, long-term directional calls.

Vays worked on Wall Street for almost 10 years starting as a Risk Analyst at Bear Stearns and later becoming a VP at JP Morgan Chase in the aftermath of the 2008 financial crisis. His expertise is in Economic Trends, Trading, and Risk Analysis, and he has been a Bitcoin bull since 2013.

Today, Vays caught up with Alex Fazel for a feature on the crypto edutainment channel Cryptonites. They discussed everyone’s favorite topic—a.k.a where Bitcoin is going in the next year, how Tesla affects Bitcoin perception, how people like Peter Schiff matter (or don’t matter) in the grander scheme of things, and lastly, how the asset ranked against all other financial assets.

Here’s a snippet from their conversation!

Vays keeps this “round” crisp and simple. “Bitcoin doesn’t have to go very far to win around One, probably a knockout of the bout. Because just in the last 12 months, the US government alone printed 20% of all its currency in existence than it has ever existed. And the US government was one of the more responsible countries printing their money, Canada, what, like 40%, or something insane,” he explained, adding:

“And even throughout all that, the US dollar is still dropping versus other currencies like the Euro, which has always been stunning.”

Vays added his personal trust in the US dollar was “shaken” after the elections went the other way. “When the election was fraudulently stolen from Donald Trump, and handed to Joe Biden, that’s when I lost all respect and all confidence in the US political system,” he said.

Vays added, “And that means that I can no longer trust the US economic system. And that means the US dollar days are numbered. That is what caused it. Because this showed that the elites don’t care what the people want, they will do whatever the hell they want.”

This round, said Vays, is the ‘exact same story’ as fiat currencies. CBDCs, short for central bank digital currencies, are proposed digital currencies issued by central governments around the world that are backed by the existing fiat reserves.

Some like China are already in the advanced stages of testing their CBDCs, while others like France, Korea, and Japan are said to be planning out pilots in the near future.

Vays, however, doesn’t consider these a big contender. “I’ve always played down the hype of cbdc, central bank, digital coins, tokens, they already have them. The dollar is a central bank digital coin. The only thing that’s stopping it from being 100% Digital is that there are $100 bills in your pocket,” he noted, adding:

“In Europe, there are many countries that barely have any paper money. Pretty soon several countries in Europe will not have any paper money. It’s very difficult for the United States to go fully digital, because these dollars are used all around the world.”

“But for any other country with good technology, good internet. They don’t need paper money anymore. And that’s a dream for central banks,” Vays stated, ending this “round.”

Last came the “round” against gold, the yellow metal that many consider the final boss of Bitcoin.

“I feel really sorry for the gold bulls that still refused to admit that Bitcoin is a better version of gold. Because gold is just it doesn’t have the biggest, most important properties that Bitcoin does. Number one is consfiticability (sic),” said Vays.

“Bitcoin is the first unconfiscatable (sic) asset that humans have ever owned. And that power is still beyond most people’s understanding how powerful that is,” he added.

(Check out the rest of Vays’ thoughts on Bitcoin vs. Gold and other financial assets in the Cryptonites Dubai Edition episode, available for streaming right below!)

The post Tone Vays shares his thoughts on Bitcoin vs. all other financial assets! appeared first on CryptoSlate.

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