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As the financial world as we know it right now continues to have difficulties, I think Bitcoin will continue to gain momentum, albeit with a lot of volatility.

Farzam Ehsani, Co-founder and CEO – VALR.com.

Farzam Ehsani is the CEO and Co-Founder of VALR.com, a platform that bridges the gap between our traditional financial system and the new world of cryptocurrencies.

As Bitcoin breached $50,000 on Tuesday, Bruce Whitfield gets some insight into the future of crypto.

Monies come to an end and are replaced by new monies, Ehsani emphasizes.

You’re right that money does change slowly, generally.

Farzam Ehsani, Co-founder and CEO – VALR.com.

But if you look at history… you see that money has changed in society always… If you look at the US dollar today, which is unbacked by gold, this year the currency turns 50… and the rand turned 60.

Farzam Ehsani, Co-founder and CEO – VALR.com.

To understand Bitcoin well he says, you have to understand our current financial system and pay attention to what is happening.

From individuals who are trying to understand what is going on with the financial system and saying ‘It doesn’t look good’ to institutions like MicroStrategy and Tesla that are now putting up to 10% or more of their balance sheet – converting that from US dollars into Bitcoin, because they believe it’s a better store value in the long run.

Farzam Ehsani, Co-founder and CEO – VALR.com.

It’s critical to understand the changing nature of money.

Farzam Ehsani, Co-founder and CEO – VALR.com.

If you look at most currencies today, they are associated with a nation state… but maps change in history. So, to think that our current organisational structures are going to remain intact into the mid- and long-term is also a fallacy.

Farzam Ehsani, Co-founder and CEO – VALR.com.

It’s like Voice over Internet Protocol [IP]. That has really destroyed the traditional sense of telecommunications. Money over IP – which is really Bitcoin – is starting to really take over what we traditionally know as money.

Farzam Ehsani, Co-founder and CEO – VALR.com.

We’ve got serious financial injustices in the system right now and this is a technology that has tremendous potential to fix a lot of those deficiencies.

Farzam Ehsani, Co-founder and CEO – VALR.com.

Ehsani does not have the crystal ball to give timelines for the future ups and downs of Bitcoin in the short term.

He says investing all depends on your own time horizon.

There are only 21 million of these things out there and actually they’re divisible into one-hundred-millionths… Because there’s such a low quantity the pricing gets people confused… If you look at money over IP… there’s still a long way to run from here.

Farzam Ehsani, Co-founder and CEO – VALR.com.

As the financial world as we know it right now continues to have difficulties, I think Bitcoin will continue to gain momentum, albeit with a lot of volatility.

Farzam Ehsani, Co-founder and CEO – VALR.com.

For more from Ehsani, take a listen:

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