eToro CEO – ‘Bitcoin is the king of crypto and it’s here to stay’
While some nations, such as El Salvador, have embraced Bitcoin with great enthusiasm, others are pressing for a legislative prohibition. Despite this, several industry insiders trust Bitcoin (BTC) will be around for a long time.
For instance, Yoni Assia, CEO of eToro, told Cointelegraph in an exclusive conversation at Bitcoin 2021 in Miami that he views Bitcoin to be the “monarch of crypto,” stressing that the most prominent cryptocurrency is here to remain:
“I’ll be astonished if the value of Bitcoin doesn’t climb significantly during the next three to five years, given that there are currently 5 billion people in the globe who don’t have access to proper domestic currency.” Nevertheless, Guy Hirsch, managing director of eToro U.S., stated that in order for this goal to turn out to be true, people must trust in the ethics of decentralizing cash:
“I believe the legal basis for Bitcoin and convincing people that it is the prudent thing to do is to fundamentally decouple government and currency. It will eventually give birth to the future that we all desire.” Assia stated that eToro is constructing a gateway between traditional finance and the crypto business in order to be ready for a decentralized tomorrow. As a result, Assia emphasized the need of integrating crypto assets with stocks. “The bulk of our clients use the platform to trade both cryptocurrency and equities. I believe it is a tendency that will continue in the future,” he stated.
Assia went on to say that it’s encouraging to see more organizations enter the crypto field, particularly with regard to decentralized finance, or DeFi: “DeFi is a somewhat of a Wild West right now. There is no regulation and no genuine financial firms, but there is a lot of incredible creativity. I believe the majority of that development will be funneled into conventional or licensed financial institutions, centralized organizations, so that they can sell it straight away to consumers.”
Furthermore, Assia stated that he believes that more than $100 trillion will be transferred into native digital assets during the forthcoming ten years. He trusts that this will be aided by the fact that practically all financial instruments will be included into blockchain systems in the future.