Animoca Brands founder Yat Siu told WebSummit Rio on April 16, 2024 that he has “no doubt” that Bitcoin (BTC) will reach $1 million in time.
Bitcoin as a symbol of the digital economy
Siu explained that Bitcoin would not be a storage value, but rather an important symbol of the digital economy. He added that Bitcoin could reach sums higher than $1 million because of its symbolic importance in the digital economy.
The importance of developing crypto
Ripple president Monica Long stressed that the development of the crypto market is more important than the price of Bitcoin. Long also praised Brazil for its focus on crypto development and highlighted the presence of clear governments on virtual assets, a concentrated group of developers and traditional financial institutions like Itaú that support crypto.
The importance of Web3 for people power
Panel moderator Kristina Lucrezia Cornèr emphasized the importance of Web3 in empowering people, especially those with few choices in society. Cornèr also mentioned that the big names in the financial sector, such as Goldman Sachs, BlackRock and Fidelity, are building their products and offerings in bear markets, so the institutional fork would be different this year.
The priority of financial inclusion
Siu stated that financial inclusion and its effects, particularly on blockchain and Web3 games, are more important than institutional adoption. Siu also pointed out that Brazil, as a country, is a place where we see a focus on crypto development, with a government creating clear rules on virtual assets, a concentrated developer community and traditional banks like Itaú benefiting from crypto.
Conclusion
Animoca Brands founder Yat Siu claimed at WebSummit Rio on April 16, 2024 that the price of Bitcoin will reach one million dollars. Siu emphasized that Bitcoin should not only be seen as a store of value, but rather as a crucial symbol of the digital economy. Panel moderator Kristina Lucrezia Cornèr emphasized the central role of Web3 in the emancipation of individuals, particularly those with few options in society.
