Macro investor and fund manager Dan Tapiero says a wave of mass adoption of crypto technology is already underway.
In a new interview with former Goldman Sachs executive Raoul Pal, Tapiero says traditional retailers and financial giants are moving into the digital asset space as a means to improve their business models.
He says the wave of adoption is one of the key differences between now and the previous bear market years ago.
“This right now is the beginning of the corporate world’s ‘normal’, traditional, corporate adoption of Web3, blockchain, crypto, digital assets… Whatever you want to call it, it’s happening now. At the end of the last bear phase, we didn’t have hundreds of companies trying to figure out how to incorporate NFTs (non-fungible tokens) into their business model. Now you have Adidas, LVMH, Nike and all these giant companies on that end.
You have Franklin Templeton, Fidelity and BlackRock. The purchase has not yet been made. But they called it quits and told the people in Washington: Listen, we control trillions of dollars in assets. Well, we want an ETF (exchange-traded fund). Alright. That’s great. But that is just a conduit for capital.
Can you imagine what will happen when the people in those institutions understand that this is just the beginning of what is so interesting about this world? Simply buying Bitcoin and Ethereum is a big deal, right? That’s great, but it seems like they don’t have a better conception of what’s going on, what I would call the digitization of all the value that exists in the world will at some point be located on a blockchain somewhere in this DAE (digital). asset ecosystem), as I call it. “That’s where we’re going.”
Investor predicts an explosion in digital assets as waves of capital descend on the space from the traditional world. He refers to the current market cycle as “the adoption cycle.”
“The protocols have cash flow. I think you’ve probably seen that Ethereum was the fastest business to reach $10 billion in revenue, or the second fastest business, if you call it that, of all time. But it’s not the kind of income traditional investors are used to.
I think our space is going to explode as more capital comes in from the traditional world. This is the adoption cycle.”
Featured image: Shutterstock/prodigital art/Sensvector
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