Leif Ferreira (Bit2Me), on crypto adoption: “This is a long-term chess game” | Business | EUROtoday

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The CEO and co-founder of Bit2Me, Leif Ferreira, predicts favorable occasions for bitcoin and, typically, the adoption of cryptocurrencies. The head of the most important Spanish platform for getting and promoting these property—in whose capital Telefónica and the Arab fund Investcorp entered final June—believes that the approval of ETFs within the US marks a earlier than and after, however it’s not the top of the highway.

Ask. At what level are we after the approval of the ETF?

Answer. We discover ourselves in a historic second. An unprecedented institutional opening is happening with the approval of bitcoin spot ETFs within the United States, and that is already inflicting a reallocation of funds that have been in different forms of property and that now additionally must compete towards bitcoin in the identical markets. Furthermore, within the case of bitcoin, we’re ranging from a restricted market. It just isn’t like the acquisition of currencies, which reply to fixed issuance, however within the case of bitcoin there can solely be 21 million models, for a world inhabitants of eight or 9 billion. But the dearth of provide just isn’t new. It is one thing that we have been already seeing earlier than, that there was higher shopping for strain than promoting. And now, as well as, comes Halving, which represents a higher discount in provide by halving the reward obtained by miners (those that create new bitcoin blocks or validate transactions). Therefore, we are able to affirm that bitcoin is in a candy second and 2024 and the years to come back may be very optimistic.

P. Is this good second restricted to the market or is there additionally some progress perceived within the each day use of bitcoin?

R. Bitcoin is a brand new financial strategy to handle cash and be sure that insurance policies can not devalue the financial savings you could have generated throughout your life and even generations. And bitcoin is now democratizing this. It is reaching what it got down to do, and now much more so as a result of it’s spreading to extra areas of society. One of essentially the most notable advances within the each day use of bitcoin is exactly that an establishment just like the SEC has accredited monetary devices that it demonized just a few months in the past. But that is solely a part of the best way. It's yet one more step. This is a long-term chess recreation.

However, if we discuss extra particular phrases of adoption, at Bit2Me we’re seeing how an increasing number of corporations are all for working with bitcoin. Already in October we reached the milestone of three,000 registered corporations keen to function with cryptocurrencies by way of our enterprise options, and the market had not but begun to completely get better.

P. What is the subsequent step?

R. Each new period has introduced with it a brand new sort of cash and, definitely, bitcoin goes to be a really related sort of cash on this digital age that we reside in. We must see it with optimism for a number of causes. The curiosity of all banks in digital property is actual and virtually all of them will supply some sort of service to their purchasers to buy cryptocurrencies. If 2024 is the yr of institutional adoption with ETFs, 2025 would be the yr of the start of retail adoption, but in addition by way of conventional channels equivalent to banks. And to all that is added the entry of the MiCA regulation on the European stage. Bitcoin goes to be democratized like by no means earlier than. It's going to turn into so normalized that we're going to take it to new heights.

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