In spite of the turbulent year that has been filled with high-profile failures, a cryptocurrency strategist who is widely followed asserts that digital assets are here to stay.
Even if the cryptocurrency industry has a rough 2022, the anonymous host of InvestAnswers assures his 443,000 YouTube subscribers that cryptocurrency will eventually become mainstream.
The host cites a report written by Ryan Selkis, the CEO and founder of crypto intelligence firm Messari, to argue that the increasing rate of adoption of Bitcoin and other blockchain technologies is a reason to have optimism regarding the emerging asset class.
“This year has been one of the worst of my life. Nevertheless, crypto is unavoidable. Bitcoin is gaining acceptance as a form of legal tender in some developing economies; stablecoins are proliferating at an alarming rate; [Web3] computing is progressing at a dizzying rate; decentralized finance has been shown to be more trustworthy than centralized finance; and, of course, there are non-fungible tokens.
Decentralized autonomous organizations (DAOs) have the ability to scale entities at the speed of the internet.
The trader in cryptocurrencies claims that the numerous negative headlines that the space has been subjected to this year have not halted the development of key infrastructure that is required to strengthen global crypto adoption. In addition, the trader claims that the market has seen a sizeable outflow of dollars from venture capital.
“While we’ve had the situation where bad actors and villains have perpetuated fraud and fleeced investors, and while the amount of venture capital coming into space isn’t as much as it was in 2021, it still looks like the critical infrastructure is being built that will change the world and that will onboard a billion people into crypto. That is something I am certain of, without a doubt in my mind.
