Exclusive: Is crypto mainstream now? 4 experts weigh in on Benzinga's predictions for cryptocurrencies and blockchain

Experts from greyscale, pregnancy And the Chamber of Digital Commerce They reached a unanimous result in Benzinga's virtual match Cryptocurrency and blockchain forecasts Webinar Thursday: Instant Approval of Bitcoin ETF Has Moved the Cryptocurrency Space from “Irrelevant to Relevant.”

But does this mean that cryptocurrency is finally going mainstream?

ETFs “A Big Victory for America”: Brooke Pierceco-founder of pregnancy (CRYPTO:USDT), sees 'more flexible Bitcoin' after decision. He said the approval is great for American companies and a “big thing” for investors to safely access the market.

Pierce also said that the desire to embrace the world's largest cryptocurrency exists “at a national level.” This may not immediately mean that countries follow El Salvador's example. But as Argentina shows, there is an appetite to try Bitcoin in everyday use cases.

More interestingly, Pierce said that the likelihood of government intervention and a “war on Bitcoin” has “drastically decreased.”

However, prices did not keep up with bullish expectations from industry experts. a surprise?

The “incredibly high level” of grayscale condemnation: Not at all, says Grayscale's global head of ETFs David Laval.

The grayscale is expected to be large Grayscale bitcoin box (OTC:GBTC) has outflows after converting its trust to an exchange-traded fund, Laval said in a Benzinga webinar.

He said it wasn't expected to get “100% market share,” but that doesn't stop Grayscale from being “incredibly bullish” on the asset class.

“The most accessible ETF,” LaValle jokingly called it, be seen Bitcoin (CRYPTO: BTC) as a digital store of value. The SEC's decision set a precedent that LaValle said he hoped it would allow Ethereum (Crypto: ETH) to continue. However, he puts the chances of immediate ETF approval at only “50-50.”

BlackRock Pivot… Why now? In the panel discussion, participants discussed Larry Fink180 on digital assets – Black stone The CEO went from seeing Bitcoin as an “indicator of money laundering” to a “big believer.”

Alex ChijicChief Operating Officer Chamber of Digital CommerceHe said BlackRock began seeing demand in the market and decided to act on it. Opening up Bitcoin as an investable asset class also allows funds to offer other financial products such as Bitcoin options ETFs.

The committee agreed that Pandora's box of mainstream cryptocurrency investment products has not yet been opened.

The SEC will still have a formidable opponent: Stefan RustFounder truffleHe doesn't see the relationship with regulators improving any time soon. He said they will continue to fight the entry of cryptocurrencies into the mainstream “with full force.”

Europe is the best example of this, according to Rust.

MiCA, the European Union's framework for regulating cryptocurrencies, is comprehensive and has been praised by the Commission. But it also increases friction, such as the need to report transfers worth more than €1,000. This alienates innovation and skilled professionals, pushing them to more business-friendly locations such as the UAE and some countries in Asia.

Žižek agrees, pointing to “skirmishes” on Capitol Hill over various aspects of the industry such as accounting rules or cryptocurrency mixers. He said he feared the United States was too slow to provide regulatory clarity and was at risk of abdicating its financial leadership.

If cryptocurrencies become mainstream, will Bitcoin replace the dollar? The session concluded with a discussion on the role of the dollar after Bitcoin enters the mainstream asset class phase.

The unanimous conclusion: Bitcoin can become the base layer of “sound money” but will not replace the dollar. The network effects of global dollar liquidity are simply too great for this to happen.

Gather more exclusive insights in our next event: Benzinga Cannabis Market Spotlight: California

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