During the WebSummit Rio conference, Animoca Brands founder Yat Siu stated that he had no doubt that the price of the first cryptocurrency would reach the $1 million mark.
https://www.youtube.com/watch?v=1d7ce3O_DMUParticipating in a panel discussion titled "Bitcoin's Revenge: Is Web3 Coming Back?", the entrepreneur said:
"I believe that bitcoin can eventually reach over a million dollars. But I am sure — not because it is a means of saving, but because in the future it will become one of the most important status symbols of the digital economy."
His interlocutor, Ripple president Monica Long, noted that "the real usefulness of assets" is more important, which will contribute to "long-term value and liquidity."
Regarding Web3, she stressed that in the current cycle, industry companies will be "more mature" largely due to the participation of institutions.
"If you think about it, some of the largest financial services brands, such as Goldman, BlackRock and Fidelity, actually create their products and offerings in bear markets, which means they see the big picture. This year, the institutional embrace will be different," Long believes.
According to Siu, the availability of financial blockchain services and Web3 games is more important than the entry of major players from TradeFi into the industry. He noted that in places like the Philippines or some Latin American countries, "millions of people" do not have access to banking services and even education.
"But now they at least have a crypto wallet, they are included in an innovative financial system, to some extent they gain literacy by learning through games, which is one of the forms of gaming," Siu said.
Regarding spot bitcoin ETFs, Long noted that Ripple is working with banks and payment companies around the world to use blockchain as an infrastructure for "global money."
"I think one of the remarkable things is that we are not done with ETFs yet. In general, this means that the products are going to enter other markets. [...] Now Hong Kong, then Singapore, Tokyo, London and Europe," the Ripple representative is sure.
Recall that the president of Euro Pacific Capital, Peter Schiff, questioned the possibility of exchange-traded bitcoin funds to raise the price of the underlying asset to $ 100,000.