Bitcoin: Perspectives on its future and the impact of Web3.

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18 Apr 2024

At the recent panel "Bitcoin's Revenge: Is Web3 Making a Comeback?" During the WebSummit Rio in Brazil, prominent figures from the crypto world offered analysis and perspectives on the future of Bitcoin and the emergence of Web3 as a determining factor in the evolution of the global financial landscape.

Yat Siu: Bitcoin will reach one million dollars

Yat Siu, the founder of Animoca Brands, expressed confidence that Bitcoin (BTC) will reach a price of over a million dollars at some point. However, his vision goes beyond considering it simply as a store of value. Siu conceives it as one of the most relevant status symbols in the digital economy of the future.

Monica Long: The development of the crypto market is essential

Monica Long, president of Ripple, emphasized that the primary focus should be on the development of the crypto market, rather than on the price of Bitcoin. She highlighted the importance of the real utility of cryptocurrencies as a fundamental driver of their long-term value and market stability.

Kristina Lucrezia Cornèr: Web3 as a tool for empowerment

Kristina Lucrezia Cornèr, Cointelegraph ambassador, highlighted the potential of Web3 to empower people, especially those with limited options in society. She emphasized its ability to provide access to previously inaccessible resources and opportunities.

Reflections on market maturity and institutional adoption

Monica Long pointed out that this year, greater maturity is expected in companies related to Web3, as well as growing institutional adoption. She highlighted the importance of this maturity to reflect significant progress in the widespread adoption and acceptance of these technologies.

Financial inclusion through Web3

Yat Siu highlighted the impact of Web3 on financial inclusion, particularly in regions such as the Philippines and Latin America, where millions of people lack access to banking services and formal education. She highlighted how Web3 is transforming individuals into active participants in the economic system.

Future of Bitcoin Spot ETFs

Monica Long shared insights on the future of Bitcoin spot ETFs, noting the growing interest from banks and the need to ensure regulated exposure to the crypto market. She highlighted the expected expansion of these financial instruments in different global markets.

The panel highlighted the transformative potential of Bitcoin and Web3 in the global economy, as well as the importance of focusing on the development of the crypto market and financial inclusion through these technological innovations.