"All markets are cyclical, and historically bitcoin has worked in three- to four-year cycles," claims Nicholas Prouten, chief operating officer of global payments platform LODE Payments International. "We are looking at a model that points to a bullish market from bitcoin, but regulation and big players like Binance will dictate the price in this space," he tells Daniela Cambone. Crypto turbulence has, "pushed us closer and closer to what blockchain is suppose to provide, and it's very beneficial for the decentralized finance space with more skeletons to fall, Prouten continues. "I'm noticing a shift in language in the crypto space, the word 'crypto' is always used as a negative connotation unless we’re in a bullish market," he argues. "The WEF has a vested interest to maintain the status quo, there is a concerted effort to paint that negative stigma for the entire industry," says Prouten. "If Binance falls, it would be severely debilitating for the industry... and I see a similar type of arrangement with FTX and Binance, they are all in connection with each other, I can’t say I can trust these operations," he continues. "The evolution of the BRICS alliance and countries stating they want to move to a gold backed system... we are at the beginning of the end for a large political power shift which is about to take place, and precious metals inherently are going to play an important role in this shift," says Prouten. If we are moving toward central bank digital currencies (CBDCs), "it makes use extremely bullish if we are moving towards CBDC’s, exploring the notion of what it means to be backed by precious metals entirely," he concludes. Video by Stansberry Research's Daniela Cambone.
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