An analyst at Fidelity feels that Bitcoin has reached a tipping point now. It is on its way to acceptance among the institutions.
In this video I discuss how this is one corner to get around. There is another one. It is the numbers. Institutions bring in money. However, the Network Effect comes from people. Imagine the market cap if there were 2 billion people using digital assets through social media activity, artwork, and gaming.
Here is the article mentioned in the video.
▶️ 3Speak
2020 and 2021 (is going to) are very important years regarding adoption.
The more institutions are in, the safer „regular“ people will feel about crypto.
Things are getting interesting.
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Stacking over the next 5 or 10 years regardless of whether it is Bitcoin or Hive is going to be so important. This is not monopoly money like many still think it is, but real currency except digital. I can see this exploding like never before as at some stage panic will set in when the majority who are not in yet realise what the rest of us have.
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I think games will definitely be part of the future and I think its definitely a way for everyone involved to make money. All you need is a few hundred thousand people and I really hope the universal NFTs become something real.
I really wish there was something like RPlanet on WAX where you stake NFTs and generate free crypto every hour. But I understand that it is not as easy as it seems. But its the idea that makes the most difference and it creates a sink for people to collect more of them even if they never use it.
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There's no tipping point just yet. It's a different approach. Strategies are changing as big investors become sharks on the crypto market.
Thank you so much for the insight. Upvoted and reblogged.
We can add misinformation to the word inflection, since everyone who enters the crypto environment believes that they will become a millionaire from today to tomorrow and it is a critical point, one of the solutions would be to be able to systematically and correctly educate those who are coming. !
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I'm still very curious to see if companies will be as willing to keep their bitcoin during the bear market as they are now eager to buy it
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This was extremely important and I agree 1000%: get mass adoption first, then institutions, not viceversa!
But are we still in the position to do that or did we miss that train because we were so happy when institutions started to throw us some bones?
It's gonna be a lot harder anyway. Because now institutions have put their foot in the door and will likely come in and start getting whatever they can before this spreads.
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I actually just got off the phone with a wealth manager and they mostly use Fidelity for their crypto holdings.
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Summary:
In this video, the speaker discusses the significant impact that Bitcoin and digital assets have achieved, signaling a tipping point in their acceptance. He highlights the increasing adoption of cryptocurrency by institutions and the potential for further growth in the digital asset space. The speaker emphasizes the importance of involving a wider audience, particularly through the gaming sector, to drive mass adoption and prevent monopolization by institutions. He stresses the necessity for user-friendly applications to attract a broader user base and maintain decentralization in the crypto space.
Detailed Article:
The video delves into the evolution of Bitcoin and digital assets, noting a pivotal moment where the Fidelity Analyst suggests the industry has moved beyond questioning the validity of cryptocurrencies. The speaker underscores the 12-year history of Bitcoin and blockchain technology, coupled with increasing institutional acceptance. While acknowledging the notable rise in adoption following pandemic-related events, he cautions that mass adoption is not yet fully realized, particularly among individuals.
The discussion extends to the broader cryptocurrency landscape, emphasizing the importance of not only Bitcoin but also Ethereum and various other tokens and platforms contributing to the mainstream financial arena. Mention is made of significant investments in digital assets, particularly in the decentralized finance (DeFi) space, highlighting the potential for growth in the industry.
The speaker raises a critical point about the concentration of wealth within the cryptocurrency space, pointing out that a small number of individuals hold substantial amounts of crypto assets. He stresses the importance of wider distribution of digital assets to prevent centralization and promote inclusivity.
A key focus of the video is on the necessity of expanding the user base beyond institutions to include a more diverse demographic, especially individuals from less economically stable countries. The speaker underscores the potential role of gamers in driving cryptocurrency adoption, leveraging the gaming industry's global reach to introduce more people to digital assets. This strategy aims to not only grow the user base but also prevent monopolization by institutions.
In discussing future prospects, the speaker emphasizes the critical need for user-friendly applications and projects that appeal to a broader audience. He highlights the importance of encouraging widespread participation in cryptocurrencies to ensure decentralization and prevent a few entities from controlling the market.
In conclusion, the video underscores the imminent need for widespread cryptocurrency adoption among individuals, highlighting the significance of community involvement, user-friendly applications, and the democratization of digital assets. The speaker's insights shed light on the importance of maintaining a diverse and decentralized crypto ecosystem to avoid monopolization and ensure broader participation in the digital economy.