Paris Blockchain Week Highlights: From Bitcoin's Potential Surge to Ubisoft's Blockchain Game
Summary:
The fifth annual Paris Blockchain Week concluded successfully, with significant insights and predictions from industry leaders. Tim Draper predicted Bitcoin price might hit $250K, while eToro CEO Yoni Assia projected the cryptocurrency market cap reaching $100 trillion within a decade. Binance showed positivity following a $4.3 billion U.S. government settlement. The CEO of VanEck revealed that 90% of Bitcoin ETF inflows were retail. VARA's CEO spoke about shifting financial regulatory burdens to larger players. Lastly, Ubisoft announced an upcoming blockchain-based game called “Champions Tactics.”
The Paris Blockchain Week, a key industry gathering packed with global experts, panel discussions, and insightful presentations, has successfully wrapped up its fifth edition. Cointelegraph, on the ground, noted key moments from this annual event. The eyes of the blockchain world now shift towards the upcoming significant event— Bitcoin halving, anticipated around April 20. Here's a recap of the Paris Blockchain Week's noteworthy moments.
Venture capitalist Tim Draper, known for lucrative investments like Tesla, Baidu, Coinbase, and Twitch, proposed a bold prediction that Bitcoin could surpass its highest price record of $72K per coin by 2022 end. According to Draper, $250,000 for each Bitcoin may not be farfetched under current conditions. However, his statement was outdone by eToro CEO Yoni Assia's prediction regarding the global cryptocurrency market. He anticipates a market cap as high as $100 trillion over the next ten years, dwarfing the gold market cap of $16.18 trillion. Moreover, Assia predicted that the crypto community would be the first to recognize singularity, an artificial intelligence entity surpassing human intelligence.
Turning over a fresh leaf, Binance faced the $4.3 billion U.S. government settlement with confidence. Catherine Chen, a Binance executive, expressed positive anticipation for future obstacles following the settlement. She assured that the imposed monitoring restrictions would eventually benefit the industry on a larger scale.
Bitcoin ETF inflows are majorly retail, with 90% being from retail, according to Jan van Eck, the CEO of investment management firm VanEck. He also hinted at more inclusion by non-traditional investors by the end of April.
Matthew White, the CEO of Dubai's Virtual Asset Regulatory Authority (VARA), highlighted plans to change the system for the betterment of small investors. He explained that larger entities must bear the cost of regulatory compliance, reducing costs for smaller players.
Ubisoft, a dominant gaming company, also made an exciting announcement of its upcoming blockchain-based game named “Champions Tactics.” This competitive PVP turn-based role-playing game serves as another effort to understand the market and allow players to own their gaming assets.
Overall, the Paris Blockchain Week was another example of industry leaders uniting to underscore the triumphs, challenges, and opportunities in the blockchain world.
Published At
4/12/2024 8:50:53 PM
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