Cryptocurrencies
Bitcoin Halving Reinforces ‘Sound Money’ Narrative, Kraken’s Perfumo Says
- Head of strategy says event highlights dollar alternative
- Price of the largest cryptocurrency continues to fluctuate
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As Bitcoin is about to undergo a reduction in new tokens created, that should reinforce its appeal to retail investors as “the soundest form of money,” according to Thomas Perfumo, head of strategy at crypto exchange Kraken.
Late on April 19, Bitcoin will undergo a so-called halving, when supply of new tokens the network generates will fall in half. Combined with Bitcoin’s total supply being capped at 21 million coins, that will make the coin more appealing to investors fazed by inflation and ever-rising costs, Perfumo said in an interview on Bloomberg Television.