WisdomTree CEO Predicts Bitcoin Will Go Mainstream with Trump’s Regulatory Clarity
WisdomTree CEO Jonathan Steinberg is optimistic about the future of Bitcoin and crypto, believing that they are on the verge of mainstream adoption and will achieve that status in the next few years.
In a CNBC interview on July 29, Steinberg pointed to regulatory clarity, the emergence of publicly traded crypto funds, and the tokenization of real-world assets (RWAs) as key factors driving this trend.
Regulatory clarity
Steinberg highlighted the significance of former President Donald J. Trump’s recent speech at the Bitcoin 2024 conference, viewing it as a pivotal moment for the industry and predicting long-term effects on regulatory frameworks for crypto and digital assets.
He emphasized Trump’s ambitious promises for the industry, stating that regulatory clarity will have a positive impact on crypto as an asset class and blockchain-enabled finance as a whole.
Steinberg noted that Bitcoin’s consistent outperformance in the market over the years will fuel adoption, especially as it gains regulatory acceptance.
He sees Bitcoin as the future of money, comparing its evolution to smartphones replacing landlines and predicting that digital assets will become the dominant form of transacting.
Real-world assets
Steinberg also discussed the expanding narrative around crypto, moving beyond core assets like Bitcoin and Ethereum to include a wider range of tokenized real-world assets.
He mentioned that traditional financial institutions are entering the RWA market, with examples like BlackRock’s BUIDL and Franklin Templeton’s FOBXX. Goldman Sachs is also planning to launch new tokenization products for institutional clients later this year.
Despite the projected growth of the RWA market to $2 trillion by 2030, McKinsey & Company highlighted challenges such as limited liquidity and transaction volumes, terming it a “cold start” problem.
Overall, Steinberg remains bullish on the future of crypto and believes that it is on the path to mainstream adoption, fueled by regulatory developments and the tokenization of real-world assets.
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