Yat Siu, founder of Animoca Brands, spoke at WebSummit Rio on April 16 on the topic “Bitcoin’s Revenge: Is Web3 Making a Comeback?”
Siu said he had no doubts about Bitcoin to reach 1 million dollars
“I believe Bitcoin can reach over a million dollars at some point. But I believe it is not because of its store value, but because it will become one of the most important status symbols of the digital economy in the future.”
Kristina Lucrezia Cornèr, Ambassador of Cointelegraph Mediating the discussion, with Ripple President Monica Long alongside Siu, Long emphasized that the development of the crypto market is more important than the price of Bitcoin:
“I would say the most important point for all of us to focus on is the real benefit for things, and that is what will drive long-term value, stability, and liquidity for all cryptocurrencies.”
Long praised Brazil and said the country is one of the places that is truly focused on crypto development:
“Brazil has a central bank with good governance. and create clear rules regarding digital assets [และ] Community of developers And you have traditional financial banks like Itaú that have a really integrated focus on crypto.”
Cornèr also highlighted the importance of Web3 in empowering citizens. Especially those who do not have many options in society.
“Web3 is about giving power to the people. to those who do not have access to certain things.”
Long emphasized that In contrast to other market cycles, Web3 companies will see more growth this year. And equally important This growth is reflected in current institutional adoption.
“If you think about it, Some of the largest companies and financial services, such as Goldman, BlackRock, and Fidelity, actually build their products and offerings on the public markets. So I think that’s something that’s going to be very different this year. There will be openness and takeover from the institution.”
Web3 and Spot Bitcoin ETF
Siu said financial inclusion and its impact Especially for blockchains and games, Web3 is more important than institutional adoption.
“If you look at a place like the Philippines. or even some places in Latin America Millions of people in the world are unbanked. No university education and in some cases without even having a basic education. And Web3 is creating an economic system. And they are becoming real financiers by teaching through gaming. Which is another way to play. And basically We are seizing all these opportunities.”
Regarding the Bitcoin ETF, Long said Ripple is working with banks and payments companies around the world to use blockchain as a new layer or infrastructure to make global money more efficient. She noted increased interest in the crypto market from banks. And wondering how to insure exposure to regulated markets:
“In Brazil, there are definitely stronger markets, such as Hong Kong, which is another important market. I think one of the interesting things is that We have not reached the peak of Bitcoin ETFs yet, which means that spot Bitcoin ETFs will appear in other markets. Currently in Hong Kong, then Singapore, Tokyo, London, Europe and many financial institutions will follow.”
refer : cointelegraph.com
picture twitter.com/MonicaLongSF
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