In an interview with Haslinda Amin, the Chief International Correspondent for Southeast Asia at Bloomberg TV on April 15, 2024, Kris Marszalek, CEO of crypto exchange Crypto.com, discussed his perspective on the cryptocurrency market and the upcoming Bitcoin “halving” event. The conversation additionally covered Crypto.com’s adaptive approaches to changing market situations, regulatory frameworks, and growth plans.
Marszalek expressed delight with Hong Kong’s regulatory updates, specifically mentioning the conditional approval of Bitcoin and Ethereum ETFs as encouraging signs. He drew parallels between Hong Kong and South Korea, pointing out the strong consumer demand for cryptocurrencies in the latter country and the hurdles foreign businesses encounter when trying to penetrate the market. Crypto.com intends to roll out its app in South Korea, aiming to deliver a competitive product in one of the most significant global crypto markets.
The upcoming Bitcoin halving, scheduled around April 2021, will decrease the number of new bitcoins created with each mined block. This event could significantly influence the Bitcoin market.
“As we near that date, some investors might choose to sell their holdings in anticipation, following the ‘buy the rumor, sell the news’ pattern.”
Marszalek believes that after the Bitcoin halving, there will be a built-in market advantage due to the decreased supply of Bitcoin and ongoing institutional investment.
In about half a year after the Bitcoin halving, we can anticipate noticeable activity. Although it may not significantly impact the market on a daily or weekly basis, over a six-month period, its effects become quite substantial and positive.
Yet, he admitted that global financial trends impact cryptocurrencies significantly, implying a possible period of consolidation like past market cycles.
Spot Crypto ETFs and Institutional Participation: Marszalek discussed the impact of the January launch of US-listed spot Bitcoin ETFs, which has seen greater-than-expected demand. These EFTs, he believes, signify growing institutional involvement in the crypto market, altering the traditional retail-dominated market structure. The Crypto.com CEO expects further regulatory decisions on cryptocurrency ETFs, which could enhance market liquidity and investor participation.
Expanding Business and International Presence: The objective of Crypto.com’s business plan is to expand its user base to include 250 million people during the present market trend. Marszalek stressed the significance of adhering to regulations and establishing a reliable brand for widespread acceptance. Regarding competition, particularly from Chinese trading platforms, Marszalek underscored Crypto.com’s dedication to regulatory compliance and customer verification as essential advantages.
Marszalek discussed how Mars has strategic collaborations with well-known sports brands such as Formula 1 and UFC, focusing on choosing partners whose values align with Mars’ own. He confirmed that these partnerships will remain an essential component of the company’s international marketing plan.
Read More
- SOL PREDICTION. SOL cryptocurrency
- SUI PREDICTION. SUI cryptocurrency
- USDE PREDICTION. USDE cryptocurrency
- DOT PREDICTION. DOT cryptocurrency
- ‘The Case Book of Arne’ Video Game to Receive Anime Adaptation
- You Are Ms. Servant Episode 6: Release Date, Where To Stream, Expected Plot And More
- USD MYR PREDICTION
- EUR UAH PREDICTION
- SKL PREDICTION. SKL cryptocurrency
- ‘Got Bent Out Of Shape’: Darren Star Remembers Backlash Over Dylan And Brenda’s Intimate Beverly Hills, 90210
2024-04-16 12:22