Pascal Gauthier, CEO and Chairman of the cold wallet provider company Ledger, thinks that tensions between Russia and Ukraine and rising inflation will boost the cryptocurrency market.
In an interview with CNBC, Ledger CEO Gauthier said that the year 2022 Cryptocurrency market in the first quarter He said it was stagnant and that the sale of Ledger wallets Compared to the end of 2021 stated that it did not decrease. In the 4th quarter of 2021 cryptocurrency market hits its highest level with over $3 trillion had reached.
CEO right now The number of people entering the cryptocurrency market is quite high. He explained that for this reason, his demand for wallets has increased.
Gauthier said that people who want to avoid sanctions because of the problems between Russia and Ukraine turn to wallets. High demand from both Russia and Ukraine is stated.
According to Gauthier, the fiat currency of Ukraine the significant depreciation of the hryvnia then he thinks that the trend towards cryptocurrencies will increase more and more.
Stating that global inflation is at very high levels, the CEO said:
The demand for cryptocurrencies will continue to increase. Inflation in the US has reached its highest level in 40 years, and the US central bank does not seem to have taken any steps to calm the situation yet. If fiat currencies continue to depreciate, the adoption of cryptocurrencies as an investment tool will increase.
said.
With the recovery in the cryptocurrency market Bitcoin is 43 thousand dollars, Ethereum is 3 thousand dollars watching over it.