Alex Tapscott says that the current bear market provides opportunities for companies and investors.
Alex Tapscott is “an entrepreneur, author and seasoned capital markets professional focused on the impact of Bitcoin, blockchain and other digital assets on business and financial markets.” He is “the co-author of the critically acclaimed non-fiction best-seller, Blockchain Revolution, which has been translated into more than 15 languages and has sold more than 500,000 copies worldwide.”
In 2017, Tapscott “co-founded the Blockchain Research Institute (BRI), a global think-tank investigating blockchain strategies, opportunities and use-cases.” In November of 2020, he “joined Ninepoint Partners, an independent, employee-owned firm serving the investment advisor and institutional investor communities, as Managing Director to launch the new Digital Asset Group.”
During an interview with Cointelegraph, Tapscott, managing director of Ninepoint Digital Asset Group (a division of Ninepoint Partners, LP), said that bear markets provide the opportunity for the industry to focus on building. He urged investors to look past the fluctuating prices, and to instead focus on the underlying value being built.
Crypto winters are always the best time to drill down on these core concepts, do the work and build for the future. The last bear market brought us the NFT revolution, decentralized finance, stablecoins and play-to-earn gaming.
Tapscott continued, predicting that the current bear market would allow time to lay the groundwork for Web3, in addition to growing decentralized finance (DeFi) as a legitimate financial instrument.
He called DeFi the “accelerant” to the financial services revolution, noting that Bitcoin previously served as the spark to light the fire. Tapscott encouraged investors to look for developments in decentralized autonomous organizations (DAOs) as well, particularly how they could be used to aid existing companies.
Tapscott concluded by advising investors to stay steady during the bear market, noting that “the most successful people in crypto are those who can keep calm and carry on.” He recommended that investors ignore the short-term trends on charts, which have been dire through the start of the bear market.
Featured Image by journey-l from Pixabay
Source: Read Full Article