Crypto’s Last Week
This special edition of “Crypto’s Last Week” will focus on DFG James Wo’s recent 2021 crypto predictions.
With 2021 on its way and high expectations for it to be a promising year for digital assets and virtual asset service providers (VASP), Digital Finance Group Founder and CEO James Wo has kindly shared his thoughts on what he believes will be key parts of the industry’s growth and steps towards institutional capital safely entering the space.
James begins with a 2020 prediction that is ongoing, referring to his overall bullish sentiment for the whole digital assets industry for the next 2 to 3 years. He gathers that besides a generalized rise in prices and market capitalization due to large institutions allocating millions of dollars into the market, the importance of DeFi has been in the spotlight since mid-2020, due to the simple yet advanced solutions it brings to users around to world, which in turn boosts the importance of protocols such as Ethereum as an established DeFi sandbox or Polkadot as a young contender that is gaining considerable ground with its refreshing concepts based on interoperability and security.
He goes on to mention the particularly high expectations he has towards the development of Polkadot and why DFG has been working tirelessly to cooperate with Polkadot-native projects in order to lend a helping hand and be involved in what he considers is an inevitable booming concept. He also refers to NFT, IPFS and Filecoin as increasingly popular concepts that should be watched closely for their valuable solutions.
James also shares his thoughts on the hot “regulatory” top surrounding digital assets and praises the efforts of different organizations pushing to eliminate all illegal actors within the industry while carefully creating clear guidelines that will enable investors around the world to safely enter the market.
Moving over to a more “strategic investment” analysis, he believes that 2021 will be an important year for mergers and acquisition of VASPs by large legacy or established institutions in both the traditional finance world or the crypto space, with an important emphasis on the value these VASPs have and the alternative option of going public, such as the recent reports of Coinbase, which we could speculate did not lack offers to be acquired by large financial service providers. He expects billion-dollar deals to become a regular occurrence and create an environment of large deals being announced from this year onwards.
To finalize his predictions, he ventures to what he considers as the most promising sectors in the industry, including Bitcoin as a trending asset that will be bought in large quantities and become a regular member of treasuries around the world, followed by Ethereum and the DeFi bull run that is yet to come with most certainly large swaths of users entering the space, and what seems to be the most exciting part for him is Polkadot and the upcoming parachain auctions which will directly have effects overpricing and potential gains for this set of assets.
For a more detailed account of James Wo’s thoughts and predictions for 2021, we would highly recommend you watch the video shared below and let us know what you think in the comments below.
Editor’s Note: James Wo is an active investor and the Founder of Digital Finance Group (DFG), a firm that manages investments in excess of $550M. He oversees a digital asset fund that is largely outperforming the market and a VC portfolio that includes Polkadot and its ecosystem projects such as Bifrost, Tidal, Crust, Acala, and more. He’s also managed investments in Brave, LedgerX, Bloq, and Circle. Additionally, James is the Founder and Chairman of Ethereum Classic Labs, the leading supporter of Ethereum Classic (ETC), a public blockchain with a market cap of $1.5B. He is Chairman of Matrix Exchange Ltd., a licensed virtual asset trading platform and custodian regulated by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market in UAE.
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