“This is the first time in history where the institutions are the last ones to come to the party–usually they are the ones selling us stocks at ATHs,” said Mashinsky, noting that “it’s time for payback.” “If you think about it as the guard at the gate–the guard that doesn’t let all the institutional money come in–is really the fact that there is no ETF, because the ETF is a product that every one of those institutions can use,” he said. While he referenced El Salvador’s and Ukraine’s Bitcoin legislation, Mashinsky identified the Bitcoin ETF as the key bullish factor in 2021. “We need to figure out how we bring women into crypto, and on the side of institutional adoption–how do we convince sovereign wealth funds, institutional funds, retirement funds to allocate into this class.” Crypto regulation and Bitcoin ETF “We still have issues,” added Mashinsky, arguing that the crypto space is dominated by men.
“A lot of it is driven by companies like Robinhood and Revolut and Paypal and Venmo–they have huge amounts of customers and them adding crypto basically creates this mass adoption,” he added, while explaining how different types of investors all played their part. You are seeing a lot of institutional money, as well as a lot of VC investments, because they are all realizing–Gosh, it’s actually happening this year,” said Mashinsky, as he interpreted institutions and corporates coming into crypto as a huge breakthrough. “On the adoption–we are running faster than people expected. Here are some of the more memorable quotes from the interview, in which Alex Fazel and Mashinsky covered the most impactful events of 2021–the year in which “the dam broke.” Mass adoption This is a truly timeless episode you don’t want to miss, as the founder of eight startups and three Unicorns, who raised more than $1.5 billion with over $3 billion in exits, explains why everyone should rebalance their book “at least once a quarter.” Investing in or trading cryptoassets comes with a risk of financial loss.In this week’s Cryptonites interview, co-founder, chairman and CEO of Celsius Network, Alex Mashinsky, shared his Bitcoin price prediction, while explaining why the “hodl and rebalance” approach is the best way to play the volatile crypto market. The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. The electric car marker’s move led to a significant drop in the price of BTC and was followed by a crackdown in China that put further selling pressure on the market.
It’s worth noting Tesla stopped accepting bitcoin payments last month over environmental concerns.
If the richest guy in the world is willing to exchange a Bitcoin for a Tesla, you have to ask yourself, who is getting the good deal? The CEO added that Tesla’s decision to accept BTC payments shows the electric car maker is taking the better end of the deal, as cars are depreciating assets while BTC’s value “is going to continue to increase.” He said:
He added he doesn’t “see him helping the community” but sees him “basically seesawing, manipulating.” Mashinsky compared Musk’s relationship with bitcoin to an on and off again girlfriend, adding “that’s not what we’re looking for.”
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