In 2024, cryptocurrency will go institutional
In the wake of a year marred by scandals and fraud, trust in digital assets has taken a massive hit. Although the past year has been tumultuous, I still believe in the utility of blockchain and crypto.
After a year of criminal trials, bankruptcy filings and SEC scrutiny, I predict that 2024 will see regulatory clarity, particularly regarding the classification of which digital assets are considered commodities vs. securities. This clarity will drive institutional investors, such as hedge funds, pension funds and banks, to see cryptocurrencies as a trustworthy investment vehicle.
Despite an uptick in economic activity and job growth in the second half of 2023, the United States will still likely slip into a mild recession in 2024. Traditional assets will be impacted by this market volatility, however, Bitcoin and other cryptocurrencies will increasingly be identified as opportunistic investments.
Given the fraught political environment and increased polarization in both the United States and across the globe that will bleed into the next year, investors will be forced to reconsider traditional asset classes, and be more open to alternative assets. Bitcoin is becoming more like digital gold and will be viewed as a safe haven amid rising global conflict and economic upheaval.
It’s for these reasons, that I remain more bullish than ever in the future of this industry.
Head of Content: IG, North America. Editorial Director & Publisher at Luckbox Magazine (@tastylive).
8 个月Great read, Anthony!
Attended Miami University
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11 个月Well said, cant agree more however, the govt shud kove faster to put regulations in place asap or else we as a country would fall behind the curve compared to EU and ME in its adoption. This is a great technology to get the trade largely macro-agnostic.