The price of Bitcoin, an electronic currency that does not belong to any traditional banking network, is in excellent health. Since the election of Donald Trump, who continued to tout its advantages during the campaign, Bitcoin has seen its value soar in recent days, reaching no less than 85,000 euros. In this inflationary context, some see it as a solid alternative to the current banking system, but such an investment carries many risks.
Published on November 20, 2024 at 3:00 a.m.,
updated November 20, 2024 at 8:56 a.m.
Its course is carefully scrutinized by financial experts, but also by more and more people converted into “self-taught trader”. For the first time in its history, Bitcoin, a digital token virtual currency on the Internet, is experiencing a spectacular surge, reaching no less than 85,000 euros in recent days. Worse: specialists are betting on a Bitcoin price of 100,000 euros by the end of 2024.
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To explain this phenomenon, we must turn to the United States. During the electoral campaign, Donald Trump, the victorious candidate, continued to praise the advantages of Bitcoin, the best-known cryptocurrency. “Donald Trump understands this: he wants to buy Bitcoin for strategic reserves, in order to maintain this usefulness of stores of value unlike traditional currencies which lose value over time” explains Jonathan Herscovici, the founder of StackinSat, a Bitcoin savings platform for individuals and businesses.
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A craze which was reflected here, with the holding, on November 12, of a conference entitled “Bitcoin: a response to the high cost of living in Guadeloupe”, at Café Papier in Jarry, Baie-Mahault. In front of 150 people, Jonathan Herscovici, 38, depicted Bitcoin, popularized the mechanisms at work behind this cryptocurrency and explained how, according to him, Bitcoin constituted a solid alternative to protect one's assets.
The euro and traditional currencies are inflationary and therefore lose value over time. For Guadeloupeans, who suffer from inflation even more than elsewhere, rather than saving on classic products such as Livret A or life insurance, which yield nothing. It is better to invest in this tool that is Bitcoin to preserve the value over time.
Jonathan Herscovici, founder of StackinSat, a Bitcoin savings platform for individuals and businesses
The world of cryptocurrency is no longer just reserved for an informed public. Now the general public is interested in it. This is the case of Anne-Gaëlle Lubino, the founder of Café Papier. Skeptical at first, the young entrepreneur let herself be convinced by Jonathan Herscovici's speech: “The first thing I said to him was: we’re going to see if you can make Bitcoin a little sexy, a little interesting” she slips into a smile. “I attended the conference, and Jonathan manages to use simple language, he manages to popularize things. It made me curious, his words helped me to understand” she continues.
I'm not going to put everything I have into Bitcoin, but I'm curious because, clearly, what Jonathan Herscovici says is supported by facts and statistics. I tell myself that it could be an opportunity to have funds that increase in value over time.
Anne-Gaëlle Lubino, founder of Café Papier
Bitcoin is a very volatile cryptocurrency because its price is likely to plunge overnight: “We have still had bad adventures in this sector, there was notably a big bankruptcy in 2022, which shook up the market. Since this episode, European regulations have tightened a little in this area. For me, it is useful to protect users from potential scams” recognizes Jonathan Herscovici.
In a press release published in January 2024, the Issuance Institute of Overseas Departments (IEDOM) warns of the precautions to be taken when it comes to investments in cryptoassets.
Cryptoassets represent an investment. It is a risky investment in loss of capital. You should know that if you choose to diversify your savings, it is possible with cryptoassets, it is legal but it is very risky. We risk gaining a lot, of course, but we also risk losing everything.
François Groh, director of the IEDOM agency in Guadeloupe, Saint-Martin and Saint-Barthélémy
To go further, the analysis of Kenny Chammougon, territorial innovation advisor, guest of Christelle Théophile, on November 19, 2024:
