eToro CEO Yoni Assia Forecasts Trillion-Dollar Blockchain Shift and AI Impact on Wealth Redistribution
Summary:
Yoni Assia, eToro's founder and CEO, discusses the critical need for understanding past market trends to predict future cryptocurrency investment patterns. Assia spoke about the possibility of traditional assets being traded over blockchains, which could revolutionize traditional stock markets' settlement cycles. He forecasts a potential market capitalization exceeding $100 trillion in the next decade due to the transition of physical assets to the blockchain. Assia also promotes Bitcoin as a hedge against rising inflation and anticipates artificial intelligence to disrupt wealth redistribution via new job creation and 'new forms of money.'
Yoni Assia, who established and now manages the eToro trading platform, highlighted the significance of grasping historical market downswings and upswings, in order to forecast future investment trends in both digital and conventional markets. In a conversation with Kristina Lucrezia Cornèr, Cointelegraph Editor-at-Large, at the Paris Blockchain Week on 10th April, Assia shared eToro's experiences with multiple market crashes, including the notable "crypto winter", the Mt. Gox downfall, the ICO bubble, non-fungible tokens (NFTs), and recent ecosystem breakdowns. He emphasized the indispensability for investors to acquire comprehensive knowledge about potential investment vehicles and to maintain long-term focus in light of market instabilities. Unlike a decade and a half ago when only Bitcoin (BTC) was available, investors now can diversify their investments into various altcoin projects and blockchain technologies. Assia also envisions a future where tangible assets will be transacted through blockchain networks much like digital securities. This could lead traditional stock markets to evolve beyond the existing T+1 settlement cycles, adopting the operational methods of crypto. Assia forecasts in the coming decade that the total value of crypto projects will surpass $100 trillion as tangible assets increasingly shift to blockchain. Assia also expects bitcoin’s market price to steadily increase as people become aware of the escalating inflation of fiat currencies and start using BTC as a safeguard to maintain their purchasing power. Addressing Cornèr’s inquiry about the redistribution of wealth through crypto, Assia contended that artificial intelligence (AI) stands to be one of the greatest disruptors because of its potential to create innovative job types and generate wealth by "creating new forms of money". He further mentioned that decentralized AIs could be employed in the future to invest in unstoppable blockchains such as Bitcoin, asserting that “the crypto community will likely be the first to identify singularity because defining consciousness isn’t straightforward.” Previously, Assia told Cointelegraph that Bitcoin adoption would be accelerated due to the proliferation of exchange-traded funds (ETFs) and the rising ease of investment on various platforms for non-professional users.
Published At
4/11/2024 12:10:11 PM
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