Lyn Alden: Bitcoin Leads The Race For Digital Money Dominance

According to well-known macro strategist Lyn Alden, Bitcoin (BTC) is likely to surpass all other digital currencies to become the leading form of money.

Alden appeared in a recent episode of ‘What Bitcoin Did’ podcast, and noted that the race for digital money dominance is essentially between Bitcoin and central bank digital currencies (CBDCs).

“I think the digitization of money is inevitable, and then the question is, ‘Which type becomes dominant?’ Is Bitcoin strong enough to push back on government control over it, or does it run into a number of shortcomings and governments are able to make their CBDCs rather dominant? And I err towards Bitcoin being successful long term. I think it has the properties.

It checks off a number of boxes, and even the boxes it doesn’t check off are within sight of being able to be checked off as technology improves and as it just gets more widely held, and it becomes better. So I think longer term, I think Bitcoin… You can call it the fastest horse in the race. It’s I think the best thing to bet on, even though for most people I wouldn’t recommend 100% allocation to Bitcoin, but I think it’s something silly not to have any of at this point.”

Alded praises Bitcoin for being an asset that is not a liability of a certain entity, which is the case for equities, bonds and most currencies. She also points out that BTC very different for most assets. For example it is much more portable than gold and can be used for “censorship-resistant” payments.

“It has a variety of use cases, and so I think in addition to being an investment, in addition to being savings, it’s also insurance. It gives you that optionality in a way that other assets don’t.” 

At the time of writing, BTC trades at $39,684, up 4.44% on the daily window.