Bitcoin hits new all-time high, when will it reach full maturity? Farzam Kamalabadi

New York (Nov 9) History, over hundreds of years, has shown periods of "mega capital migration," and we are currently in the phase of this migration in which capital is shifting towards digital assets, according to Farzam Kamalabadi, chairman of the Future Trends Group.

“[Mega capital migration] has happened for 300 years sine the discovery of the North American continent…and building wealth there. Then, the wealth created through the classic assets into the stock market distributed. The wealth went to Europe to invest into Germany after the World War, and then to Japan after the World War,” Kamalabadi told David Lin, anchor for Kitco News at the Future Blockchain Summit in Dubai.

In the later half of the 20th century, capital migrated into China.

“All of the [capital from], Japan, U.S., Germany, went into China, that was the third generation of mega migration. From China came China outbound investments,” he said.

Now, assets and capital are migrating into the digital realm.

“All of these [examples] are geographic asset migrations. There is a mega capital migration which is not geographic, it is vertical, and that is the move from the classical asset into the crypto asset and into blockchain, into national or global digital economies,” he said.

On Tuesday, November 9, Bitcoin hit a new all-time high of over $68,000.

KitcoNews