• Dan Tapiero stated that the traditional banking system has definitely witnessed in a fall 
• Upon comparing BTC to gold, he stated that the former is much bigger than gold 

Dan Tapiero, CEO of a private equity fund was the guest on the latest episode of The Pompliano Podcast. During the same, the equity fund CEO shared his thoughts about the ongoing blowups in the banking system.

He further shared his thoughts on the current state of the cryptocurrency market and why Bitcoin [BTC] could never be irrelevant.

Deep diving into it all

Commenting on the prevalent FUD in the banking system, the exec stated that the banking system has definitely witnessed a crash. Furthermore, he also stated that the blowup in the banking system was a serious event.

Addressing the issue of high interest rates, Tapiero stated that every interest rate cycle has peaked due to ongoing debacles in the banking system. He also cited “failed oversight” on the part of the financial regulators as one of the major reasons for the uncertainty in the traditional banking environment.

Addressing the age old comparison of gold vs BTC, Tapiero stated that BTC is much bigger than gold. He also stated,

“Gold is a store of value, anti-dollar play and there’s a physical component which I think is very important. Bitcoin, and you know the Bitcoin Code in the Bitcoin network is a completely new innovation for the world. It’s the potential to change the way we move value or the way we store value.”

Furthermore, he agreed with Tudor Jones’ comment of BTC being the fastest horse. He attributed the strength of the BTC network to its Proof-of-Work (PoW) model. Additionally, he considered BTC’s security component as ‘bulletproof’.

Does ETH make its place?

Talking about the king of the altcoins, Dan stated that Ethereum [ETH] managed to achieve network effect

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Author: Aashna Dunwani

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