Bitcoin is a Digital Manifestation – Says CEO of Kingdom Trust

June 1, 2020

Bitcoin digital manifestation

Written by: Zemima

Bitcoin is a digital manifestation of Austrian economics says the Chief executive of Kingdom Trust, Ryan Radloff. While Radloff also acclaimed that he first encountered bitcoins in 2011, and very soon he started to use it very shortly after that. He made clear that the technology pinned under the bitcoins did not quite attract him to start handling and holding bitcoin, in fact, he found an interest in the economic principles of the digital currency. 

“For me, what drove to Bitcoin wasn’t the technology at all. […] I had been a student of monetary policy, specifically the Japanese yen. As I started really understanding the construct of how money works, Bitcoin’s monetary supply — the quantitative hardening that it goes through every few years — was my eureka moment more than the blockchain technology element of it,” – stated Radloff. 

“Obviously I love the tech side and I think that it’s incredibly innovative, but what gets me excited about it is these ‘hardening’ elements — it’s really a discussion around Austrian economics versus Keynesian economics,”

He wanted to make the Austrian currency more approachable and understandable to the millennials of the country. He argued by saying that bitcoin is gradually taking a par with the traditional currency or even better than traditional currency. Bitcoins, the digital currency will very soon replace gold and money. 

He mentioned that the Austrian economists are far from accepting bitcoin as the future of the country. Radloff is trying to make it a permanent choice for everyone and hopes that in the recent years some of the changes will be seen. He has also mentioned that the pandemic has to some extent smoothened the use of the bitcoins in Austria but it is far away from being called the normal. 

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