Coinbase still Long on Bitcoin as CEO Investigates Details for Creating Value
There are many cryptocurrency traders, investors, and enthusiasts that might have grown tired of Bitcoin price predictions, given the fact that the markets are so volatile. For example, Tom Lee of Fundstrat Advisors, who has frequently appeared on popular media platforms such as Bloomberg and CNBC, gave various incorrect predictions about the price of Bitcoin before ultimately abandoning the prediction game.
However, one individual is making a big prediction, even though there isn’t a specific price associated with it. That individual is Brian Armstrong, the CEO of Coinbase, one of the most recognized companies in the cryptocurrency sector which is valued at around $8 billion. Specifically, he believes that major strides will be made with regards to regulation.
Regulation Will Take Shape
One of the main issues concerning cryptocurrency is the fact that governments simply aren’t sure how to regulate the sector. There are countries that have focused on cracking down on the entire space, while other countries, such as Malta, have recognized that this could be a chance to galvanize an economy, and marketed themselves as such.
Armstrong believes that finally, regulation will “take shape this year, particularly in Europe.” This could mark a huge turn for the continent, and shouldn’t come as much of a surprise, considering that high-profile UK lawmakers have also been vocal about the fact that the space is a bit of a “Wild West.”
Armstrong also recently took to Twitter to give an innovative example of how someone who thought out of the box might be able to profit from the blockchain bandwagon in ways that few have considered.
Specifically, he let off a series of short tweets where he explained how someone could create a “wifi access point” with a crypto paywall as a way to create some passive income. He did note that this would require a certain amount of technical knowledge, and a way for the payments to go directly to a crypto wallet, as well.
While many might argue that mass adoption will truly “create value” in the sense that individuals who make everyday purchases with cryptocurrency might create more of a network effect, the truth is that Armstrong believes there are ways to create value that no one is exploring. He acknowledges in the tweets that there are a “lot of details to get right,” but pointed out that there were opportunities for profit for those that are “tenacious enough.”