The market value has surpassed Deutsche Bank. Bitcoin may lead the development of the future financial system

Over the past few months, the value of Bitcoin has increased significantly, and many people believe that the geopolitical risks in the global economy have caused the appreciation of Bitcoin. According to a well-known wealth advisor, Bitcoin is more than just an investment tool because it has the advantages that can create an alternative financial system for society.

The world needs an alternative

Just recently, Rainer Michael Preiss, executive director of Taurus Wealth Advisors, told CNBC that Bitcoin could save the global economy. The global economy is in a bad shape as the debt burden continues to grow. Preiss said that the world's financial system is built on debt, which has led to quantitative easing and a situation of "too much debt and not enough growth." Preiss further noted that he believes Bitcoin has great potential to drive the fourth industrial revolution.

Governments have had a big problem with debt repayment for a long time, and the whole world has been hit hard by debt. Maybe the world needs an alternative - Bitcoin, an asset-backed currency with a limited supply.

More crimes involving the US dollar

When asked about individuals and organizations using Bitcoin for illegal activities such as ransomware, Preiss said that this concern is reasonable. However, the wealth advisor said that compared with the US dollar, the illegal activities involving Bitcoin are almost negligible. In addition, Preiss pointed out that the frequency of US dollars used for criminal transactions is far greater than that of Bitcoin, and compared with Bitcoin's traceable public blockchain transactions, it is almost impossible to find any details about US dollar transactions.

Preiss said:

A common question is: is it a currency?

This question may be too limited - Bitcoin is not just a currency, it is a token. Its trust and consensus are distributed.

A changing world

Preiss also mentioned that trust is becoming increasingly scarce and social contracts are breaking down. He said that decentralized financial architecture is likely the future development trend. In fact, Preiss said that Bitcoin has already established a foothold in the traditional financial system.

Last week, Bitcoin surpassed Deutsche Bank in market value, proving that the world is changing.