During an interview at the Paris Blockchain Week, Yoni Assia, CEO of eToro, discussed the future of cryptocurrencies and blockchain technology. Assia predicts that the market capitalization for crypto projects could surpass $100 trillion as more physical assets transition to the blockchain.
Speaking with Cointelegraph Editor-at-Large Kristina Lucrezia Cornèr, Assia reflected on eToro’s experience navigating through various price crashes, such as the Mt. Gox crash, the initial coin offering (ICO) bubble, nonfungible tokens (NFTs), and recent ecosystem collapses. Through these experiences, Assia emphasized the importance for investors to educate themselves about the assets they are interested in and maintain a long-term vision amidst market volatility.
Unlike 15 years ago, investors now have more options beyond Bitcoin (BTC) and can invest in various altcoin projects and blockchains. Assia envisions a future where real-world assets can be traded on blockchains, similar to digital asset securities. This would allow traditional stock markets to move beyond the current T+1 settlement cycles and adopt a system similar to cryptocurrencies.
Assia predicts that over the next decade, the market capitalization of crypto projects will exceed $100 trillion as more physical assets make the transition to blockchain technology. He also anticipates that the market price of Bitcoin will continue to rise as more individuals recognize the increasing inflation of fiat currencies and use BTC as a hedge to protect their purchasing power.
When asked about the redistribution of wealth through cryptocurrencies, Assia believes that artificial intelligence (AI) will play a significant role in creating new types of jobs and generating wealth by introducing new forms of money. He suggests that decentralized AIs in the future could invest in unstoppable blockchains like Bitcoin, and this could lead to the crypto community being the first to identify singularity, given the difficulty in defining consciousness.
In a previous conversation with Cointelegraph, Assia mentioned that the adoption of Bitcoin would be accelerated by the introduction of exchange-traded funds (ETFs) and the ease of investing through user-friendly platforms.