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Sterling Witzke, partner of Winklevoss Twins' family office, Winklevoss Capital, does not think that 2019 will be a pivotal year for institutional investors embarking on cryptography. Witzke supported his badertion that expectations exceeded the facts on the ground.
Witzke made these remarks during an interview with Cointelegraph at the Crypto Finance conference in St. Moritz, Switzerland, on Jan. 17. She explained that the result of the crypto market's uptrend in 2017, when Bitcoin reached a record high of $ 20,000 a piece – was a skewed perception of what is needed to traditional capital to adopt the innovation:
"Because the end of 2017 was so crazy, people tend to think that space is moving at the speed of lightning [..] At the underlying level [tech] Development [often] Is […] but I think it takes some time for the institutions to get comfortable. You need better custody, healthy debt and credit markets to get [them] really excited. So, I do not think 2019 will necessarily be the year. "
Witzke added that although she has seen many investors dive thoughtfully into crypto, she has not yet seen it. Two factors that were deemed important are the lack of regulatory clarity – particularly in the United States – and security concerns.
As mentioned, the twin Gemini cryptography system recently launched an advertising campaign that places strong emphasis on strict regulation and compliance, summarized in slogans such as "encryption rules needed" and "crypto without chaos". This agenda goes against the original philosophy of crypto-peer-to-peer innovation. Witzke explained that crypto consumers deserve the same protections as traditional investors.
"The distinction comes, she says, between the protocol layer and the companies and applications that are built there. At the protocol level, it is absolutely correct that you do not need more regulations because they are already integrated. "
According to a report released last fall by the "Big Four" reviewer, KPMG believed that the cryptography industry needed institutional investors to realize its potential as a separate badet clbad. whole. This opinion is shared by many personalities in the cryptography sector. . Others have expressed concerns about the potentially negative or unfavorable impact of the increasing financialization of the sector.
In interviews related to their recent advertising campaign, Tyler and Cameron Winklevoss have steered the discussion beyond regulatory issues, claiming that banknotes and symbolic values are among the most interesting developments today. cryptography. Luzius Meisser, board member of the Bitcoin Association Switzerland, echoed this view at this week's Crypto conference. She said "stabl coins are a prerequisite for medium-sized companies to bring their equity to blockchain".
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