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Eddie van der Walt, the Bloomberg editor, expressed his thoughts on the cryptocurrency industry in 2022.
He seems to be very optimistic about Bitcoin because of past year events. According to him, Coinbase’s successful IPO, Paypal joining Crypto, and the approval of the first Bitcoin ETFs in the USA helped introduce cryptocurrencies as standard assets.
Other cryptos mostly follow the shadow of the BTC. Despite this, it is worth noting that some crypto sectors are going beyond finance, like NFTs and Metaverse.
Van der Walt’s vision shows a bright future for cryptocurrencies, much of which is due to the infrastructure being built around Crypto.
Eddie van der Walt said:
“Last year was a wild year for Bitcoin and Crypto, as there were major advances in the cryptocurrency sector. I think cryptocurrencies are becoming part of the financial system. A year or two ago, people were arguing that cryptocurrencies would go zero and that they had no value; I don’t think anyone says that anymore because now we have ETFs, IPOs in the sector, and futures contracts that have liquidity.”
What does 2022 hold for cryptos? @flacqua gets the latest from @EdVanDerWalt https://t.co/0svcHw7y6q pic.twitter.com/W8Iwqp4EKN
— Bloomberg TV (@BloombergTV) January 4, 2022
Other than the growth of crypto companies present in the market itself, such as exchanges, we also see external players joining the crypto movement. Businesses like Visa and PayPal and traditional banks show intense interest in the crypto sector.
“So I think Crypto is a financial infrastructure open to institutional investors, and they prefer Bitcoin. For these reasons, I think last year we saw BTC breakthrough and overall a fascinating future for cryptocurrencies is developing.”
Van der Walt believes that Bitcoin has stood the test of time, and now both individuals and institutions consider it safe to use it in their portfolios.
“Bitcoin went through intricacies in its early years, but now it’s entering its prime time, and now the cryptocurrency industry is going to define what it is, what it means, and what we can achieve with them.”
Bitcoin turned 13 this Monday, and in addition to the achievements that BTC earned last year, it is also important to note that it became the fastest asset to reach a market capitalization of 1 trillion dollars.
Finally, with more and more knowledge about Bitcoin being passed among people, one can only imagine a future of an ever-increasing adoption for BTC. Other cryptocurrencies will probably continue to take advantage of this movement, unfurling areas like NFTs and Metaverse.