Bitcoin Demand Getting Stronger, Admits Ex-Australian Senator
Cory Bernardi, an Australian politician, recently said that he became a bitcoin faithful in the last few years and he believes BTC demand is getting stronger.
Bitcoin continues to find its way to the heart of mainstream politics across the world as former Australian Senator Cory Bernardi reveals today in a tweet that he has been a bitcoin convert for at least two years.
Bitcoin Demand On The Rise
He said this as a response to a comment on a Twitter post where he wrote about “Banking an Asymmetric Bet.” However, Bernardi did not reveal if he owns any bitcoin.
After spending the “last couple of years” with Bitcoin, Bernardi concludes that the cryptocurrency serves as a digital version of gold for millennials.
While the former Senator is bullish on Bitcoin, he is cautiously aware of the risks attached to the crypto asset. However, he believes that it is the same as other asset classes in terms of leg, confidence, and demand.
According to Bernardi, the demand for bitcoin is getting stronger as more corporations and institutional investors buy the digital asset as a primary reserve currency or hedge against financial crises.
Become convert to Bitcoin in last couple of years. My conclusion is it Is the millennial’s version fo gold. Still see risks attached but are basically the same as other asset classes – leg, confidence and demand. See demand getting stronger. @APompliano is on the ball re BTC.
— Cory Bernardi (@corybernardi) November 10, 2020
Millennials Love Bitcoin
Bernardi’s thoughts on bitcoin being digital gold for younger investors is in line with several reports and surveys this year.
According to a survey published in July, millennials from across 17 countries prefer Bitcoin over gold, government bonds, and real estate. JP Morgan also published a report saying that bitcoin’s price could rally 10x compared to gold if millennials alongside an increasing number of institutional investors continue to buy the digital asset.
Bitcoin in Politics
Meanwhile, Bernardi is not the only politician that is bullish on Bitcoin. British politician and former Member of European Parliament Godfrey Bloom purchased his first bitcoin last month after blasting Europe’s Banking System in 2019, calling it a scam.
Earlier this week, CryptoPotato also reported that American politician and bitcoin holder since 2013, Cynthia Lummis, will become Wyoming’s new Senator.
