Iceland’s crypto industry is progressing but has not yet reached its full potential, with untapped advantages, including its unique geography. Cointelegraph interviewed Gulli Gislason, chief investment officer at Viska Digital Assets, to understand the opportunities and challenges in the northern country.
Gislason discussed the 2008 banking crisis and the subsequent capital controls, which opened people’s eyes to cryptocurrencies and blockchain technology. He also mentioned the airdrop of Auroracoin to Icelandic citizens in 2014, sparking interest in cryptocurrencies. However, Gislason believes that Iceland still has a way to go in terms of adoption and education in the crypto space.
Iceland’s renewable energy resources, including geothermal, hydropower, and wind power, make it ideal for Bitcoin mining. Gislason emphasized that Bitcoin miners have allowed Icelandic power producers to sell excess energy, despite the challenges of increased electricity demand and limited development of new power plants. Gislason also addressed environmental concerns and the need for more energy resources in the future.
Regarding Viska Digital, Gislason explained that the hedge fund looks for investments with sufficient liquidity and focuses on interesting market sectors. The team’s diverse backgrounds in finance and technology enable them to prioritize staying power and proper risk management.
Looking to the future, Gislason believes that the industry is at an exciting stage of adoption, with mainstream players like BlackRock showing interest in crypto assets. He sees this as the most exciting time in the crypto industry.