Forecast of the head of Animoca Brands: Bitcoin will reach $1 million
Date: 2024-04-18 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Yat Siu Foresees Great Growth for Major Cryptocurrency
Animoca Brands CEO Yat Siu spoke at the WebSummitRio event, which concluded yesterday. He expressed his confidence that the price of Bitcoin will reach $1 million in the long term. Siu noted that over time, Bitcoin will become one of the key status symbols in the digital economy.
The expert also emphasized the importance of financial inclusion compared to the adoption of blockchain technologies by institutional investors. He said: “We know that in some countries there are no banks and the local population does not have higher education. However, they can use cryptocurrency wallets, which integrates them into the next generation financial system.”
During the event, Ripple President Monica Long also spoke, emphasizing the importance of introducing blockchain technologies to improve the traditional financial system. She also spoke about the potential impact of spot Bitcoin ETFs, noting that Brazil could become a key market for this instrument.
Most recently, the Hong Kong Securities and Exchange Commission approved the launch of spot funds for Bitcoin and Ethereum. Although the exact date for the start of trading has not yet been announced, it is expected that the ETF could appear on the local exchange in two weeks. Meanwhile, US spot funds faced capital outflows for the third day in a row.
