How Bitcoin blends technology, currency, and asset in OneThu, Jul 25, 2024 at 5:01 AM GMT+9
Mr. Harris doesn't seem to give a speech at the conference, but aside from that, I want to avoid selling crypto stocks before the conference.
Well, here's an interesting news column.
Bitcoin merges technology, currency, and assets into one
Thursday, July 25, 2024 5:01 AM GMT+9
The cryptocurrency market is bustling with discussions about Bitcoin's evolution and future prospects. In a recent discussion, Roundtable anchor Rob Nelson and LayerZero Labs VP of Business Development Simon Baksis provided insightful perspectives on the multifaceted nature of Bitcoin and its trajectory.
Often referred to as “digital gold,” Bitcoin has moved from a revolutionary concept to a robust store of value. Rob Nelson emphasized this unique aspect by emphasizing Bitcoin's triple identity: finite assets, currency, and technology. He pointed out that “Bitcoin is technology, an asset in the traditional sense, a currency, and it's like 3 to 1.”
Simon Baksis resonated with this sentiment, pointing out that early adopters were fascinated not only by its financial potential, but also by the promise and technology behind Bitcoin. He said, “Not because you can buy bitcoin, now it's $65,000... that was the promise of this technology. It's a promise of peer-to-peer payments, the speed of cross-border transfers, and that transfers don't have to take 2 to 3 days.
This foundation set the stage for Bitcoin's evolution. Initially, Bitcoin's value was rooted in technical promises. Over time, innovations like stablecoins have increased their usefulness and made peer-to-peer and cross-border payments more efficient. This solidified Bitcoin's role as a store of value.
Looking to the future, Nelson asked about the future, particularly prices and volatility. Baksys predicted that volatility would gradually decrease as adoption increased and more institutional investors entered the market. He emphasized the significant increase in bitcoins held in ETFs, which currently exceed 1 million bitcoins and are equivalent to about 65 billion dollars. This institutional engagement is far from where it was just a year ago.
Baksys anticipates that extreme price fluctuations seen in the past will decrease as the industry matures. He said, “I think there will be less and less volatility... which is generally a good thing. That means we've reached a level of maturity in the industry.
Thursday, July 25, 2024 5:01 AM GMT+9
The cryptocurrency market is bustling with discussions about Bitcoin's evolution and future prospects. In a recent discussion, Roundtable anchor Rob Nelson and LayerZero Labs VP of Business Development Simon Baksis provided insightful perspectives on the multifaceted nature of Bitcoin and its trajectory.
Often referred to as “digital gold,” Bitcoin has moved from a revolutionary concept to a robust store of value. Rob Nelson emphasized this unique aspect by emphasizing Bitcoin's triple identity: finite assets, currency, and technology. He pointed out that “Bitcoin is technology, an asset in the traditional sense, a currency, and it's like 3 to 1.”
Simon Baksis resonated with this sentiment, pointing out that early adopters were fascinated not only by its financial potential, but also by the promise and technology behind Bitcoin. He said, “Not because you can buy bitcoin, now it's $65,000... that was the promise of this technology. It's a promise of peer-to-peer payments, the speed of cross-border transfers, and that transfers don't have to take 2 to 3 days.
This foundation set the stage for Bitcoin's evolution. Initially, Bitcoin's value was rooted in technical promises. Over time, innovations like stablecoins have increased their usefulness and made peer-to-peer and cross-border payments more efficient. This solidified Bitcoin's role as a store of value.
Looking to the future, Nelson asked about the future, particularly prices and volatility. Baksys predicted that volatility would gradually decrease as adoption increased and more institutional investors entered the market. He emphasized the significant increase in bitcoins held in ETFs, which currently exceed 1 million bitcoins and are equivalent to about 65 billion dollars. This institutional engagement is far from where it was just a year ago.
Baksys anticipates that extreme price fluctuations seen in the past will decrease as the industry matures. He said, “I think there will be less and less volatility... which is generally a good thing. That means we've reached a level of maturity in the industry.
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