Short review of the latest trends
With Jamie Dimon’s recently scathing comments regarding bitcoin it is easy to ignore the positive comments from notable characters. Steve Wozniak, Apple co-founder, likened Bitcoin to Real Estate and Gold; insinuating Bitcoin will become a globally recognised store of value. While financial analysis Ronnie Moas, Founder of Standpoint Research, boldly claimed that Bitcoins market cap will overtake that of Apple within 5 years.
This optimism from prominent figures, backed up by bitcoins trending growth will continue to bolster the growth of crypotassets. Further, recent developments have reduced the regulatory risks Bitcoin faces. For example, recently the SEC allowed LedgerX to engage in bitcoin derivative trading. This indicates that a full outright ban on crypto assets by the US government is extremely unlikely.
Currently we can assume most cryptocurrencies holders, are small to medium individual investors attracted by the large returns crypto assets are capable of. High net worth individuals have not entered the scene in notable numbers. This is due to difficulty understanding bitcoin/blockchain, difficulty starting a bitcoin wallet and the non-existent Bitcoin ETF on traditional stock markets.
Every crypto investor should be aware of the following applications of crypto-currencies and which platform is providing them.
- Borrowing / Lending with crypto-assets — CoinLoan, SALT and Ripio
- Securitised Assets and Securitised Stock Markets — DIM & LA Token
- Universal currencies for gaming— Dmarket and Enjin
