eToro CEO urges investors: Embrace long-term vision amid market turmoil
Yoni Assia, founder and CEO of the eToro trading platform, outlined the importance of understanding previous bear and bull cycles to predict future investment patterns in traditional and crypto markets.
Speaking with Cointelegraph Editor-at-Large Kristina Lucrezia Cornèr at the Paris Blockchain Week on April 10, Assia discussed eToro’s journey through several price crash events, recollecting “crypto winter” episodes of the Mt. Gox crash, the initial coin offering (ICO) bubble, nonfungible tokens (NFTs) and the recent ecosystem collapses.
In the process, Assia underscored the need for investors to learn about assets of interest and stick to a “long-term vision” amid market turmoil.
Unlike 15 years ago, investors now have the option to go beyond Bitcoin (BTC) and put their money into various altcoin projects and blockchains.
Moreover, Assia envisions a future where real-world assets will be traded over blockchains, much like digital asset securities. In doing so, traditional stock markets could go beyond the current T+1 settlement cycles to how crypto operates.
Over the next 10 years, Assia predicts that the market capitalization of crypto projects will exceed $100 trillion in value as most physical assets shift over to the blockchain.
He further anticipates that Bitcoin’s market price will continue to rise as more people realize the rising inflation of fiat money and use BTC as a hedge to retain their purchasing power.
Responding to Cornèr’s question on the redistribution of wealth via crypto, Assia said artificial intelligence (AI) will be one of the biggest disruptors, as it is well-positioned to create new types of jobs and generate wealth “through creating new forms of money.”
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The use of decentralized AIs in the future could be to make investments in an unstoppable blockchain like Bitcoin, and in the process, “the crypto community will be the first to identify singularity because it’s very hard to define what consciousness is,” he said.
In a previous interaction with Cointelegraph, Assia said Bitcoin adoption would be catalyzed by exchange-traded funds (ETFs) and ease of investing through various platforms for non-professionals.
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