In a recent interview with Insidebitcoins.com, Mode Banking Chief Product Officer Janis Legler has explained how a change in the investor mindset will affect Bitcoin after the coronavirus pandemic. According to Legler, the shift in mindset is due to the stock market sell-off as a result of the pandemic.
Financial landscape set to change
The officer further stated that the financial landscape will change as one of the long term effects of the pandemic.
According to Legler, “We believe that the rippling effects of the coronavirus pandemic are going to have a long-lasting effect on our financial landscape and change the way we use money. The world will undoubtedly remember this crisis forever, and it could usher in the beginning of a new era where diversification of asset exposure and wealth protection are more important than ever for retail investors and institutional players alike.”
He also talked about the informal cryptocurrency regulations sector in the United Kingdom. He however acknowledged that the FCA’s approach to digital assets has been measured.
With Central Bank Digital Currencies gaining popularity, Legler noted the currency can offer a solution to problems like payment efficiency, transaction security, and financial inclusion.
He believes that CBDCs might not offer a challenge to Bitcoin dominance in either the short or long term within the digital asset markets.
Following Mode Banking’s decision to donate Bitcoin towards NHS fund for managing the coronavirus crisis, the company’s CPO explained that it was an opportunity for crypto firms to change the perception of digital assets.