“We are definitely seeing that, and really are perked up around the Hong Kong protests and some of the currency flight that happened out of Hong Kong and the mainland, and Bitcoin was one of the few assets that we watched that actually predicted that uncertainty ahead of time. Nothing else was really moving, Bitcoin was.”
His remarks are in line with what has been recently said by Peter Tchir, Forbes contributor and a former Executive Director at Deutsche Bank. He recently wrote in an article that Bitcoin is a leading indicator of hidden geopolitical tensions.
Bitcoin is still new and very volatile
The interviewer also said that many investors are concerned about the fact that Bitcoin used to be worth $20,000, and asked if there is any guarantee that such a price collapse won’t happen again. Colas answered stating that, indeed, it will happen again since Bitcoin is still a new and very volatile asset.
Bitcoin has begun trading at a premium in Hong Kong as continued political uncertainty produces a widely-reported spike in demand.