The CEO of the mining company Argo believes that cryptocurrencies have little prospects from the point of view of macroeconomics, with the exception of Bitcoin, which will save the world from inflation. Peter Wall stated in an interview that Bitcoin is Gold 2.0. According to Wall, the limited BTC limit of 21 million coins and its decentralized nature will help the first cryptocurrency turn into digital Gold.
The head of the investment company Miller Value Partners, Bill Miller, called Bitcoin an effective means of accessing financial services, regardless of the military and economic situation. Billionaire Bill Miller supported Bitcoin, calling it a "saving tool" for all countries involved in military conflicts, because of which ordinary citizens cannot access banking services. Miller cited the example of the collapse of the financial infrastructure in Afghanistan after the withdrawal of American troops in August 2021.
California becomes the first state in the nation to begin creating a comprehensive and harmonized framework for responsible WEB3 technology to thrive. Executive Order aims to create a pipeline of talent for the emerging industry and utilize the technology for public good. Governor Gavin Newsom signed an executive order that aims to create a transparent regulatory and business environment for web3 companies which harmonizes federal and California approaches, balances the benefits and risks to consumers, and incorporates California values such as equity, inclusivity, and environmental protection.
The leadership of New York state that representatives of the traditional financial system are afraid of new phenomena, and this is especially evident when it comes to cryptocurrencies and Blockchain. During the Financial Time Summit on Digital Assets, Mayor of New York Eric Adams, urged regulators to listen to representatives of the cryptocurrency industry in order to create a quality legislative framework for the industry. The official is confident that by listening to industry representatives, regulators will be able to achieve such conditions for the industry that would suit all participants in the economic system.
Opening up to new technologies, is not just about thinking outside the box, but breaking down the established framework and realizing that this is a new time for all global business..
Eric Adams
At the beginning of the year, when Adams first took over as mayor, he announced that he was converting his first salary into Bitcoin and Ether. His administration was intent on making New York a hub for cryptocurrencies and financial innovation. During the campaign, Adam made cryptocurrencies his central theme, stating that he believes in digital currencies and the freedom they bring.
Adams said that his office is actively working with government partners to assess the situation around digital assets to ensure compliance with standards, as in the traditional financial system.
The CEO of the Binance cryptocurrency exchange believes that sanctions and the US dollar's supremacy will push foreign corporations to seek refuge in cryptocurrency. During a podcast interview with Circle CEO Jeremy Allaire, Changpeng Zhao stated that as geopolitical tensions rise and the US dollar's hegemony grows, so will the adoption of cryptocurrencies by society. Zhao observed that the world is growing more divided, and that the dollar is increasingly being used as a sanctioning tool:
Money is a very powerful tool with which governments can influence each other, geopolitics and much more. The dollar is one of the strongest instruments the US has at its disposal.
Changpeng Zhao CEO of Binance
The fracturing of the global community, according to Binance's CEO, leads to even higher adoption of cryptocurrencies:
The world is becoming more divided. Guess what will happen when this trend intensifies? People will seek to use the currency as a tool to circumvent sanctions and other operations.
Changpeng Zhao CEO of Binance
One of the largest crypto exchanges in the world, FTX, plans to use the Blockchain to fix "broken social networks" and improve interaction between social platforms. CEO of FTX cryptocurrency exchange, Sam Bankman-Fried, spoke about the plans in an interview with Bloomberg. According to him, in social networks such as Facebook, there is no normal way to see a link to a tweet, and Whatsapp, in principle, cannot recognize links to tweets. Bankman-Fried said that cryptocurrency and blockchain projects do not have such problems, they easily work with each other even if the ecosystems are not directly connected.
The entrepreneur believes that with the help of the blockchain, the same interaction can be reproduced in Web2 projects. The head of FTX criticized the moderation policy on popular social media.
The three guys who run the digs decide what gets censored and what doesn't..
Sam Bankman-Fried CEO of FTX
FTX has a working model in place that allows different platforms to access the same pool of data to make independent censorship decisions, he says, and those decisions are the same for everyone. Such a model would help new platforms catch up with existing ones, instead of building their own policies from scratch. Bankman-Fried proposes to establish a single standard for Web2 projects using blockchain, which would significantly speed up the interaction of sites and social networks with each other, helping to focus on aspects that are more important for development. Recall that on Monday, the head of the American branch of FTX Brett Harrison (Brett Harrison) said that the cryptocurrency market will not reach the level of the stock market without the launch of spot derivatives.
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The star of the Shark Tank show looks positively to the future. He believes that digital assets will become the 12th sector of the economy in the S&P 500 index. The main American stock index includes companies operating in 11 industries. According to Business Insider with reference to Kevin O'Leary, the investor expects cryptocurrencies to expand the index.
Experts advise not to place more than 20% of the investment portfolio in companies in one sector of the economy and no more than 5% in shares of one company. If crypto companies do enter the S&P 500 in the future, investors will have a significantly expanded choice. In addition, shares of cryptocurrency companies can act as a hedging asset, the investor believes. O'Leary said that he now has 32 different cryptocurrencies and tokens in his portfolio, including Solana, bitcoins and Polygon tokens. The investor limits the share of cryptocurrencies to no more than 20% of the portfolio, and no asset in his portfolio exceeds 5% of the total amount. The investor expects that shares of companies from the crypto industry will enter the S&P 500 index in the next decade.
Bitcoin is not just a coin, it is software. Just like altcoins. If you believe that software can have long-term economic value, you can allocate up to 5% of your operating budget. I have made the largest investments in assets that I think have excellent economic prospects
explains Kevin O'Leary