{"id":191126,"date":"2021-05-21T17:00:01","date_gmt":"2021-05-21T16:00:01","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=191126"},"modified":"2021-05-21T13:03:32","modified_gmt":"2021-05-21T12:03:32","slug":"dbs-bitcoin-is-potentially-a-better-store-of-value-than-the-dollar","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/dbs-bitcoin-is-potentially-a-better-store-of-value-than-the-dollar\/","title":{"rendered":"DBS: Bitcoin is \u2018potentially a better store of value\u2019 than the dollar"},"content":{"rendered":"

DBS, Singapore\u2019s largest and one of the world\u2019s biggest banks by assets under management, put forward a bullish case for Bitcoin<\/a> in a <\/span>client note<\/span><\/a> earlier this week.<\/span><\/p>\n

The bank said allocating funds to Bitcoin was an \u201copportunity that [fiat] money cannot buy,\u201d adding that such investments remained a highly risky endeavor and the prospect of losing all their funds was \u201cwell within the realm of possible outcomes.\u201d<\/span><\/p>\n

Choosing Bitcoin<\/b><\/h2>\n

In the note titled \u201cdemystifying cryptocurrency,\u201d chief investment officer Hou Wey Fook said that central banks provided the \u201crocket fuel\u201d for the eventual growth of cryptocurrencies, as did the incessant money printing in recent times that further helped popularize Bitcoin among the masses.<\/span><\/p>\n

\u201cWhile technological adoption, an increasingly digitized economy, and institutional acceptance are all narratives that have fuelled the surge in Bitcoin, undergirding it all is the longstanding trend of monetary debasement that has plagued not just the US, but various other major economies around the world as well,\u201d he wrote.<\/span><\/p>\n

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In a report released this week, DBS\u2019 chief investment officer Hou Wey Fook said that #Bitcoin<\/a> is an \u201copportunity that (fiat) money cannot buy\u201d pic.twitter.com\/OAKRTK775t<\/a><\/p>\n

— Bloqport Insights (@Bloqbot) May 21, 2021<\/a><\/p><\/blockquote>\n