BitPanda CEO Eric Demuth: BTC Is Gold 2.0 For Millennials

The cryptocurrency ecosystem tends to see regulations as the “big and bad wolf” on the market. In this narrative, the government and regulators can set rules that slow down innovation and damage the growth of the crypto industry. This might have been the case a few years ago but not anymore. The BitPanda CEO Eric Demuth said:

“Depending on the regulation, it can be quite a good thing now that the industry and many companies have reached a size that matters.”

For those of you who did not follow our cryptonews, Demuth was a keynote speaker during the Blockchain Economy 2020 conference in Istanbul, Turkey. He made time for a quick chat with the media at the first day of the event.

The BitPanda CEO started the conversation with an announcement, stating that Turkey is the first stop for BitPanda outside of the European Union. He also listed several reasons like cultural affinity, geographical proximity and being “two hours away with the plane.” But the main reason is the high demand from such a big country.

BitPanda has been featured in the Bitcoin price news as an exchange that trades Bitcoin (BTC) as well as precious metals like gold, silver and platinum. Demuth did not hesitate to call Bitcoin a “gold 2.0” or a “better version of gold.”

The BitPanda CEO said that as the demand for digital assets increases forces the need for precious metals to also grow. “That supports the theory I always have that Bitcoin is Gold 2.0 for a younger and ‘more digital’ generation,” he said.

Aside from the scarcity and the functionality, he also said that cryptocurrencies are very easy to liquidate fast and are pretty much free to transfer – and can be stored in your pocket. He added:

“I think crypto has already become an asset class that owns its own that will never vanish again. They will always be there. Especially, Bitcoin is like the gold standard of crypto. There will never be a world without digital assets or digital currencies.”

When asked if the regulations are a challenge for the crypto industry, the BitPanda CEO Eric Demuth took a second to think about it as the answer to this question has changed over the past couple of years. According to him:

“We have AML5 regulation in Europe right now. It’s similar to banking regulations. Four years ago, that would have killed all innovation and companies in Europe. Imagine you’re just a new startup, you can’t achieve this.”