In an insightful conversation with speaker, educator and content creator Ivan Liljeqvist (Ivan on Tech) on AIBC, we got a host of information about cryptocurrency and blockchain, including the important issue of how the adoption of crypto is going to shape up our future. The host of the show, Jessica Walker, started the conversation with the recent rise in the valuation of Bitcoin and asked it was an indication of bulls returning to the crypto market. Recalling how quickly Bitcoin crossed $10k to almost reach $20k in December 2017, Walker asked whether that trend could possibly again witness now?
Ivan replied affirmatively and indicated that crossing the value of $9k for Bitcoin was indeed a positive achievement and the value was expected to move up further in the days to come. Specifically mentioning the psychological barrier of $9.4k, Ivan said that if Bitcoin was able to cross this mark, the next wave of bulls could certainly hit the market. Ivan then specifically mentioned the adoption of cryptocurrency, referring to the launch of the first-team poll by Paris Saint Germain (PSG). This can be easily considered as one of the significant developments towards the speedy adoption of cryptocurrency among the masses.
Davos in News
Walker then directed the focus of the conversation towards Davos, where the founder of Cardano, Charles Hoskinson, had made some significant announcements while putting forth his viewpoint of open ledger technology and its utility to the host of industries including the financial technology domain. The collaboration of Cardano with PwC also got a significant mention in the conversation as this coming together is expected to give a huge push towards the adoption of crypto and blockchain.
Ivan also lauded the role of various crypto managers who worked very hard in the Davos to spread the awareness about crypto by clearing doubts of a range of stakeholders at the event. This information was primarily disseminated through small events and technical sessions arranged by crypto fund managers in Davos and these efforts are sure to bear results in the future. The growing popularity of earning interest on the crypto investment and raising money through the digital coins also figured in the discussion.
Millennial: Key to crypto Adoption
When asked what he thinks the most important aspect of enhancing the crypto adoption rate, Ivan emphasized two primary aspects: information and education. These aspects are particularly important in the case of millennials as the generation is seen as a flag-bearer of the crypto revolution and adoption in the future. Emphasizing the need to correct the misconception of crypto being a risky investment, Ivan said that the things need to be seen in a perspective and it is a gross miscalculation on anybody’s part to assume that investment in cryptocurrency is a risky affair. Taking the example of a well-known Bank which over the period of time saw a drop in its share price, Ivan said that it would be wrong to presume that returns from the cryptocurrency investment will be negative.
Towards the end of the discussion, the focus of the conversation shifted to the Bitcoin halving event, which is scheduled to take place later this year. It is expected that Bitcoin halving will push the prices of the coin upwards as the supply of the digital currency will be constrained. The shortage of coins will increase its demand in the market and accordingly, this is going to push the prices of Bitcoin further. We can predict that we’ll see the new Bitcoin Era in the nearer future.