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Aleksey Muratov: Global elites resist spread of cryptocurrency with last strength

State financial regulators have begun an inspection in a number of Chinese Bitcoin exchanges such as BTCC, OKCoin and Huobi in the last few days. Owners of Bitcoin exchanges from other countries feel a pressure on their activities.

As stated by Chairman of the Board of the International Public Movement Change the World Together Aleksey Muratov, these facts indicate that the global elite is trying to resist the development of decentralized financial system. ʺWe recall how Bitcoin sharply rose in the first days of 2017. It was $1200 and even higher on some exchanges. Of course, the global financial elite could not ignore it. As a result, exchanges came under pressure from both government financial regulators and anonymous hackers in various countries,ʺ he said.

Aleksey Muratov reminded that the official website of the movement Change the World Together got hit by unknown hackers. ʺTellingly, the massive DDoS attacks began right after our activists had held public events to support the new American President Donald Trump and against the activities of the US Federal Reserve System. As a result, we had to temporarily create a mirror of the website,ʺ he recalled.

Chairman of the Board of CWT also noted that a similar intervention of regulator affected a currency rate of e-money. ʺAt some stage, cryptocurrency price stood at $850 and then rose a bit, but a new recession followed. The Bitcoin’s rate fell to $770 and the cryptocurrency lost about 15% of its value over the last few hours,ʺ Aleksey Muratov said.

At the same time, he emphasized that, despite the resistance of the global elite, the price of the cryptocurrency will never be near zero. ʺAny products, which are useful and limited, will always have a market value. At the time, gold was very inconvenient to use in calculations, so it was replaced by fiat money. Even if you create an electronic currency backed by gold, this gold can be arrested and such examples already exist. Backing with the value of precious metals has a risk to lose everything,ʺ Aleksey Muratov said.

He believes that cryptocurrency beats fiat money at the moment. ʺMoney is also a product that fights for its buyer. But a genie has got out of the bottle and we are witnessing the greatest experiment now. Incompetent monetary monopoly will not be able to stop him. And it will be fighting to death. This is the most powerful contender in the world, but, in the end, cryptocurrencies will absorb commerce, which were tied to fiat financial system. Cryptocurrency will create a new market and it is our task to promote and expand it. The world will get rid of monetary Middle Ages soon,ʺ Aleksey Muratov summed up.

Source: CWT News

  • January 13, 2017 1:38 PM MSK
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