Charles Hoskinson calls out the mainstream media’s constant predictions on the death of the cryptocurrency Ponzi scheme – scam bubble on Twitter predicting an influx of trillions of dollars from institutional markets once the next round of regulation is settled.
Hoskinson Calls Doom and Gloom Media Reports
There hasn’t been a day gone by since Bitcoin entered into the collective consciousness during its unprecedented 2017 bull run, carrying along with it along the terms cryptocurrency, blockchain, and digital money, that a headline hasn’t appeared warning the public of its inevitable demise and the financial destruction which would encompass all in the space.
With old money market bears like Warren Buffet calling the entire industry “rat poison” and headline-grabbing institutional heads like Mark Carney of the Bank of England calling for the fall of cryptocurrency every chance he gets, it’s refreshing to have a crusading voice on the side of the industry make a loud prediction every once in a while. It doesn’t hurt that in this case, that voice belongs to the founder of both Ethereum and Cardano Charles Hoskinson.
Hoskinson tweeted out to his 92 thousand plus followers criticism on the mainstream media’s “cryptocurrency is going to die broken record” stance. Predicting that when the present regulatory problems are settled “wall street is showing up to the party with all their locked up capital. That’s tens of trillions of dollars entering the space”
What's often missed by the cryptocurrency is going to die broken record media is that after the next wave of regulation, wall street is showing up to the party with all their locked up capital. That's tens of trillions of dollars entering the space eventually. Future is bright
— Charles Hoskinson (@IOHK_Charles) June 21, 2018
Hoskinson is not alone in this opinion. Ever since Goldman Sachs solidified rumors of wall streets first digital asset trading desk and with recent clarity coming from the SEC clearing the way for Ethereum and possibly other crypto-based derivatives talk about the tidal wave of institutional monies coming to flood the crypto market has been ramping up.
Crypto Bulls put the Present Price Lull into Perspective
Wall Street’s ‘Crypto King’ Bart Smith who runs the investment firm Susquehanna International Group recently told CNBC in an interview focused on the interest of institutional investments into crypto and blockchain based technologies that: “[Regulatory] clarity will allow institutions to come in more than anything else because institutions don’t like to invest into uncertainty. So we’re just taking the most conservative approach that we can,”
Likewise, San Francisco’s Coinbase CEO Brian Armstrong told his employees in a series of tweets about the nature of the crypto market that: “When there is hype, people are irrationally exuberant. When there is despair, people are irrationally pessimistic. Neither is true, reality is always somewhere in the middle, more correlated with real usage (transactions per day) than the price.”