Crypto Not Mainstream’s Darling, But It Still Could Be The ‘Next Big Thing’

0 40

Chris Burniske, a partner at Placeholder Ventures, recently broke down his thoughts on this subject matter in his most recent installment of his insightful Twitter thread series. He notes that while crypto isn’t the darling of the mainstream conversation or consciousness, it remains “latent” in the mind of the majority. Citing personal conversations, the former head of ARK Invest’s crypto branch added that when he delves deeper down the cryptocurrency rabbit hole with people he meets, there is a number that sees it as the “next big thing.”

Burniske, who authored the primer on all things digital asset, added that the fact that even those who are skeptical concede to the inevitability argument shows that broad deployment could be in crypto’s sights. He concluded:

“So yes, the tech is still early & we have a long ways to go. But the way in which the ideas are lingering in peoples’ minds is a great long-term indicator for crypto.”

Why Bitcoin Seems Inevitable

Although many cynics, including Warren Buffet, Jamie Dimon, and the rest of the skeptics in that Wall Street posse, would claim that Bitcoin is inevitably going to bite the dust, this might not be the case. More specifically, in the current context of the embattled macroeconomy, some argue that decentralized money’s value proposition is as apparent as ever, if not more so than normal.

Speaking to TD Ameritrade, Wall Street hotshot Travis Kling explained that there’s a non-zero chance that Bitcoin could live up to everyone’s expectations, becoming a globally-secured transaction settlement layer that is immutable, decentralized, censorship-resistant, and cost- and time-effective. Kling, the incumbent chief investment officer of Ikigai, added that as governments continue to enlist the use of questionable fiscal decisions, that gives Bitcoin a sort of inevitability, citing quantitative easing and sovereign debt concerns.

It is this type of investment by big hedge funds, retirement funds and various capital flush entities that will really drive the acceptance of this technology. While the overall concept and use case for things like blockchain may elude the average citizen, it is important to continue to work this into business and while they may not always understand the overall concept of this technology, they do understand money.

Anthony Pompliano of Morgan Creek Digital recently put it best, noting that his underlying investment thesis is that eventually, whether it be months, years, or even decades, all form of stock, bond, currency, and commodity will have a corresponding token form, increasing the efficiency, inclusivity, transparency, security, and immutability of the global financial system.

Source link

You might also like

Pin It on Pinterest

Share This

Share this post with your friends!

WhatsApp chat