Is Crypto Dead? Let's Understand the Future of Cryptocurrency

Why Crypto isn’t dead….

It fascinates me that we have an asset class whose supply halves every 4 years.

And everyone knows this.

And still, we overlook it.

Our first weekly discussion covers:

1. Is Crypto Dead?

2. Bitcoin ETFs

3. Is XRP A Hidden Gem?

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Is Crypto Dead?

I bought my first Bitcoin and Ethereum near its ATH, with no knowledge of cryptocurrency to invest in and what it has the potential to do. Since then I’ve told myself on multiple occasions that it's now an averaging-my-cost game. And there you go, suddenly, you’re up 20% on Ethereum.

Yes. The asset is tremendously volatile. But, it has proved to hold and create value over long periods of time.

I laugh a bit when people compare it to gold.

Gold is backed by a tangible asset. Crypto isn’t. Not yet.

We Need Patience. Not Blind Patience.

What should we want to see?

Institutional Adoption - Money Flows, Markets Move.

Increased Ownership - People want control over their assets. Not give it to governments.

Regulatory Clarity - What does legal and compliance look like? We Don’t Know

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Bitcoin ETFs

Bitcoin is not a trend.

Blackrock and Fidelity have thrown in their hats to apply for a Bitcoin ETF.

Wait a second. If the mighty Blackrock and Fidelity are willing to have a spot-trading ETF, MAYBE, Bitcoin might stick around for a while.

It could potentially attract billions into the crypto markets, rewriting the crypto narrative from the last two years.

What will an Bitcoin ETF change (besides capital inflows)?

Downward pressure on commissions and fees - Coinbase, the largest crypto trading firm, charges retail investors as high as 3%

More Asset, Less Cash - Bitcoin’s price changes will be monitored, and forecasted, like an asset class

Self Custody - Buying bitcoin from an exchange means that there is a third-party custodian (Can people still have the same control?

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Is Ripple XRP A Hidden Gem?

I bought XRP Coin back in February 2022 and continued to average my cost until my base-cost became CA$0.72.

I sold it last month for CA$0.98.

Was it a fluke?

Honestly, I bought it as a “buy a random crypto and wait” game.

But then I looked deeper.

Ripple XRP aims to be used by banks to settle cross-border transactions quickly and cost-effectively.

XRP’s press releases have shown MUFG, BBVA, SEB, Akbank, Axis Bank, YES BANK, SBI Remmit, Cambridge Global Payments, Star One Credit Union and eZforex.com to have adopted XRP.

The trend is interesting. Banks are adding new service providers.

Blockchain is entering banking. How much will it be used? How much is it being used? How safe is it? Can it provide liquidity for millions of transactions? How does it affect the price of the cryptocurrency, XRP, itself?

Many Questions.

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One thing’s for sure. Cryptocurrency has been going up and down.

What do you think is the Future of Cryptocurrency?

See you next week.

Disclaimer: This is for informational purposes only. This is not investment advice. To consider the merits of an investment, please seek out a financial advisor.