The cryptocurrency industry has undoubtedly had a good deal of opponents, with many critics of blockchain-based assets claiming that Bitcoin, Ethereum and altcoins are nothing but fads, which are doomed to fail within a few months. And while critical viewers bombard the cryptosphere with disbelief on a daily basis, many industry experts remain impassive.
TheStreet, a popular New York-based financial services and news site, recently spoke with a number of prominent figures at the interior of this budding industry to get an idea of their views on the crypto .
The Institutional Investment Case
TheStreet spoke for the first time with Hermann Finnbjornsson, founder and CEO of Svandis, a renowned asset management firm, who expressed his eternal belief in Bitcoin. Finnbjornsson said:
"[There’s] Less than a 1% chance in my mind that the bitcoin will not succeed I think there are many reasons to be confident about bitcoins. bitcoin. "
The Svandis executive raises an interesting point about traditional financial institutions, as many optimists expect that the allocation of capital by such companies will drive the next upward run of the crypt, which potentially will push the price of blockchain assets guaranteed to unfounded rates. But this statement is much more than mere hope, since a variety of institutions have already begun to make significant incursions into cryptography.
Trustless, Immutable & No Intermediaries
Russell Korus, CEO of EZ Exchange, also spoke with the publication on Bitcoin, adding that there are a number of reasons why the asset is truly revolutionary. Korus noted:
There are numerous reasons why this new asset class has captured people's imagination since its inception in 2009 – bitcoin shows a number of features that make it a very powerful and seductive concept. Allows the direct transfer of peer-to-peer value into completely trustworthy transactions. He is completely decentralized, autonomous, he writes all his archives in a public ledger, and his registration is completely immutable.
Bearing in mind these unique characteristics, Korus added that Bitcoin can create and conduct "a new paradigm" that will allow the world to move from the free exchange of information (Web 1.0 and Web 2.0) to a world where value can be exchanged without an intermediate part (Web 3.0). This change, added the CEO, has "far-reaching repercussions and societal change" as the legacy entities within almost every industry will be overthrown by decentralized solutions.
What & # 39; s Next?
Sentiment within this sector is rapidly changing, with a multitude of analysts, traders and investors now beginning to believe that the crypto-market may be at the peak of an upward trend. Bitcoin veteran Finnbjornsson, the aforementioned CEO of Svandis, thinks so, saying to TheStreet that the price of the first cryptographic resource could easily exceed the $ 10,000 level within the first week of November.
The CEO explained that the November release of Bakkt, a cryptocurrency platform directly supported by the Intercontinental Exchange, by Starbucks and Microsoft, will result in an uptick in the purchase of volumes. And as Brian Kelly once said, Bakkt "is the biggest (piece of) crypt news this year."
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