Rino Borini was our guest today at the Relai Bitcoin Session. Rino is a Zurich-based entrepreneur who has years of fintech experience and is now also working as an advisor at Relai.
We sat down with Rino to talk about the digitization of the financial system and, of course, Bitcoin.
Alternatively, we can listen in on AnchorFM.
Rino Borini is an ex-banker who now focuses his energy on the digitization of the financial system, where Bitcoin is poised to play a role. His interest in Bitcoin has been driven by the digital currency’s scarcity, decentralization, and peer-to-peer nature, as well as the events of the European debt crisis, where some people simply couldn’t access their money.
Bitcoin’s Recent Price Action
About bitcoin’s price development, Rino said:
“We have seen massive price gains since November, but it’s important to note that it won’t always only go up. While the long-term trend is looking good, we need to expect 20 to 30 percent price drops in the future as well.”
At the same time, Rino points out, the volatility of the price of bitcoin has decreased and is now lower than that of 145 stocks in the S&P500 that have higher volatility than bitcoin.
In light of the professionalisation of the Bitcoin ecosystem and the advancements in Bitcoin regulations, he expects the price development to continue to be positive in the coming years as we are finding ourselves in a much more mature and robust market than in 2017.
A “Sexy Asset”
We asked Rino how he classifies Bitcoin, given that some consider it to be a payment system while others a speculative asset and some a store of value.
Rino considers Bitcoin a “sexy asset.”
He goes on to explain that the Bitcoin network does not function well as a payment system for day-to-day transactions because of the volatility and high transaction fees. Instead, Rino considers Bitcoin as an investment asset akin to gold.
Bitcoin’s scarcity and its deflationary feature make it an exciting asset that is here to stay, Rino believes.