The expectations of the cryptocurrency space concerning the future of the booming space continues to grow with optimism. The phenomenon is expected, considering that the market population has doubled in the last 12months, and analysts have touted the market’s growth to triple by the end of 2021.
The rapid growth of assets like Bitcoin and Ethereum, coupled with the DeFi boom, has consistently increased many investors’ mass adoption. The latest to discuss his optimism for the cryptocurrency sector is Tom Jessop, who believes that the best is yet to come from the market.
Jessop does not hide his admiration of Gary Gensler
The investor who is the President of Fidelity Digital Asset, an arm of Fidelity Investments tasked with providing bespoke services to crypto assets, in a recent interview with journalists had expressed his delight in the growth of the cryptocurrency market, as he has been one of the few people who has predicted this success a few years ago.
Tom Jessop buttressed his point on the expected positive impact of Joe Biden’s administration, as he talked about the newly chairman-elect of the U.S SEC, Gary Gensler. Jessop believes that the experience of Gensler in stock trading and investments means that Biden had empowered an expert on the new role, and he believes that Gensler will make a positive impact on not just stock trading in the country but also on digital assets trading.
The expectations surrounding the impact of the new President’s reign on the cryptocurrency market had been positive from all, as most individuals and investors have echoed Jessop’s thoughts. The adoption of Blockchain in America has been touted to have fostered its growth amongst many countries, and Jessop hopes that the new government’s policies under Biden do not change this stance.
Jessop has high hope for Bitcoin
The businessman, in his interview, also discussed his expectation towards Bitcoin, the most valuable cryptocurrency. Jessop believes that the price of Bitcoin, despite its fluctuation, cannot hit the all-time lows of some years ago. In his statement, he does not see a crash of the cryptocurrency like the one that happened four years ago when it crashed by more than 80% from an all-time high.
He believes that the cryptocurrency is still in its budding stage and that investors will have to give it time to maximize its potential. The institutional adoption of the cryptocurrency also delights Jessop, who believes that is what the digital asset needs to retain its position as the number one cryptocurrency in investors’ minds. Jessop, by his statement, has now joined the growing list of enthusiasts who have high hopes for the cryptocurrency, despite its underperformance when compared to some altcoin, since the beginning of the year.