Why Bitcoin is Still a Great Opportunity According to DBS Bank


DBS Bank, a Singaporean financial services company, believes that Bitcoin is an untapped opportunity, despite the volatility of the crypto market.
DBS said that Bitcoin’s ability process continuous transactions without the need for a clearing house makes it an unparalleled opportunity in history.

DBS Exec: Bitcoin Driven By Its Utility

Daryl Ho (bank’s senior vice president and investment strategist) noted that Bitcoin is driven more by its utility. This allows for the transfer of value via decentralization, eliminating the need to have central parties.
“Most methods of trading assets require a central clearing agent to verify the trade. He said that it was still possible for fiat money to buy as fiat monetary systems remain governed by central bankers.
Further explanations by the investment strategist included an illustration showing people who, while they may have certain restricted assets, could not sell them because the exchanges had closed. The bitcoin market, on the other hand, is open 24 hours a day and allows them to raise liquidity and cash at any moment.
Ho also pointed out that Bitcoin’s volatility doesn’t affect its uniqueness or benefits
“I believe bitcoin is unique regardless of whether its price changes.” He said that if we only look at bitcoin on a price basis, there will be a lot volatility. This doesn’t tell you much about the benefits it really brings.”

DBS Records Record High BTC Trading Volume Despite Downtrends

Despite current market downtrends, DBS has seen growth in its crypto-related activities.
Despite the April and May market crashes and Terra-Luna collapses, DBS Digital Exchange (DDEx) saw a significant increase in bitcoin trading volume in June.
According to the exchange, institutional clients weren’t worried about the crash and were instead busy buying bitcoin at lower rates. According to DDEx the June BTC trading volume was four times greater than April’s.

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