It’s been revealed that there is a specific catalyst that could trigger an explosion in the prices of digital assets. Check out more details about this below.
This could trigger an explosion in the crypto market
According to the latest reports, the billionaire investor and hedge fund legend Stanley Druckenmiller is expressing optimism over crypto assets.
Druckenmiller says in a CNBC interview that the lack of confidence and trust in central banks could lead to cryptos playing a “big role” when the rebuilding of economies starts.
“I still think… if the Bank of England, what they did is followed by stuff like that by other central banks in the next two or three years, if things get really bad… I could see cryptocurrency having a big role in a Renaissance because people just aren’t going to trust the central banks.”
He also made sure to explain the fact that the U.S. Federal Reserve also made a “big mistake” by being late to hike interest rates in order to tame inflation.
“I like everything I’m hearing out of the Fed, and I hope they finish the job. They made a big mistake.”
He continued and said the following:
“They seem to have owned it, but it’s easy to own it when employment is strong. Let’s see what happens if we get a hard landing. I just hope they stick to their guns because this stuff was terrible in the ’70s. You have to slay the dragon.”
Crypto adoption
The CEO of Binance digital asset exchange, Changpeng Zhao, has just revealed a way of increasing the global adoption of cryptocurrencies.
In an interview with Yahoo Finance, the Binance CEO made sure to explain the fact that having regulations for the digital asset industry would “ease” crypto adoption.
Check out our previous article in order to learn more details about this.
