There is no telling which house the Bitcoin camel would choose to sit at. At one end, there are optimistic reports that whole nations like El Salvador are moving to write Bitcoin adoption into the law. On the other hand, there is an increasing danger that big economies like China, United States, and others may move to ban cryptocurrency trading altogether. However, some hints can be taken from enterprise speakers like eToro. Speaking at the Bitcoin 2021 Conference, eToro CEO claimed that Bitcoin is here to stay.
Yoni Assia told the media in an exclusive interview that Bitcoin is the king of cryptocurrencies, and it would be a great surprise if there is not a significant price spike in the crypto in the upcoming three to five years. It should be noted that eToro is a financial services firm based in an apartheid entity. Assia also remarked that about five billion people in the world do not have a reliable fiat. Therefore, Bitcoin can move in by filling that space.
Managing Director of eToro Boldly Talks about the Mortality of the Decentralized Monetary System
Speaking to the crypto journalists, Guy Hirsch, the managing director of the e Toro, claimed that if people are made to have faith in the mortality of the situation, it would be possible for them to adopt the monetary system more rapidly. He further claimed that a lot of people would have to agree that it is better to separate the governing bodies from the acquisition and handling of money. When such a time arrives, the dream would realize that the company is going after.
Meanwhile, eToro CEO Assia claimed that the enterprise is building technology that would bridge traditional finance and crypto-based infrastructure. According to him, the merger of both is not only inevitable, but it is also necessary. The main reason behind this idea is that the clients of the company trade both digital assets and equities separately. However, an expansion of this scale would allow the business entities and traders to do both at the same time.
eToro CEO Claims that Cryptocurrencies are Volatile and DeFi Space is Considerably Unpredictable
Speaking to the media, Assia claimed that digital assets are a fairly volatile asset class that carries a significant amount of risk. He also matched the DeFi space to the Wild West, which is barren, filled with outlaws, and offers harsh conditions for survival. However, he was referring to the matter of decentralized application innovations. He added that due to no laws and no regulations, the potential for new projects is boundless.
He argued that many DeFi enterprises would start to offer their services directly to retail consumers going forward. Assia believes that in the next decade, the crypto market cap would increase by $100 trillion. He pegged this idea to the notion that more institutional investors are taking an interest in the crypto space. He also claimed that all viable and promising asset class commodities would dissolve into the blockchain space in the future.