Paris Blockchain Week recap: Optimism abounded as the Bitcoin halving approaches

The Paris Blockchain Week, a three-day exclusive conference with panel discussions, debates, and speeches from an array of international blockchain experts, has wrapped up its fifth successful run.

During Blockchain Week in France, CryptoMoon was present to record the notable moments, and there were indeed many. As we move forward with new dates in our calendars and gear up for the upcoming significant event – the Bitcoin halving anticipated around April 20th – let’s take a look back at what transpired during the exciting times in France.

BTC to hit $250K?

According to venture capitalist Tim Draper, known for his successful investments in companies like Tesla, Baidu, Coinbase, and Twitch (worth mentioning are Tesla, Baidu, Coinbase, and Twitch), Bitcoin’s current record-breaking price of approximately $72,000 per coin could be surpassed by the end of this year.

“Draper shared with CryptoMoon in an interview that he thinks we might reach around $250,000 by the year’s end based on current trends.”

Crypto market to hit $100T?

If Draper’s estimation of BTC being worth a cool quarter-million dollars seems modest according to eToro CEO Yoni Assia, he predicted that the total value of the global cryptocurrency market will reach an astonishing $100 trillion within the next ten years. To put this into perspective, the current market capitalization of gold, the precious metal, is approximately $16.18 trillion.

An intriguing prediction Assia shared may not be the most captivating one. Additionally, she mentioned that the crypto community could possibly recognize the onset of singularity first. Singularity refers to a hypothetical stage in human history where an artificial intelligence surpasses human intelligence significantly. This is challenging to define because consciousness isn’t well-understood.

Binance turns the page

Binance doesn’t seem daunted by the prospect of paying a $4.3 billion settlement to the US government, unlike many other companies would be. Instead, they have chosen to focus on moving forward.

Based on the statement from Binance executive Catherine Chen in a discussion led by CryptoMoon’s editorial head Kristina Cornèr, Chen expressed optimism about how the regulatory hurdles faced by the company will bring about positive outcomes for the crypto industry as a whole.

“It is a challenge, but it’s a welcome challenge, and we fully embrace it because we know that that would be great for the market.”

Paris Blockchain Week recap: Optimism abounded as the Bitcoin halving approaches

ETF inflows uneven

Approximately 90% of Bitcoin ETF investments continue to come from retail investors, as stated by Jan van Eck, CEO of VanEck. Institutional investors and traditional banks have yet to show significant interest in the Bitcoin ETF market.

Paris Blockchain Week recap: Optimism abounded as the Bitcoin halving approaches

“Some large Bitcoin investors and institutions have recently transferred funds into Bitcoin, and there could be more joining in towards late April,” van Eck explained to CryptoMoon.

Dubai to ease burdens for small investors

Matthew White, the CEO of Dubai’s Virtual Asset Regulatory Authority (VARA), shared with CryptoMoon that under the proposed regulation, the greater responsibility for financial compliance would fall on larger virtual asset market participants.

“The cost of compliance is borne by the larger systemic players, and this allows the smaller players to come into the ecosystem, be regulated, but also not have to suffer the same sort of level of costs of compliance that we’ve got.”

Paris Blockchain Week recap: Optimism abounded as the Bitcoin halving approaches

Ubisoft teases new game

Ubisoft, the well-known video game publisher responsible for hits like Assassin’s Creed, Ghost Recon, and Rainbow Six, announced their latest project in the world of web3 games. This new title, “Champions Tactics,” is a blockchain-powered competitive turn-based role-playing game with a focus on player versus player (PVP) battles.

“It’s essential that we grasp the market requirements for releasing this type of game,” he explained. “Our ultimate goal is to let players create a community within the game by collecting figurines, and to experience the value of owning in-game items as their assets.”

In the end, the Paris Blockchain Week proved to be an uplifting event where entrepreneurs and experts in the field came together, sharing their perspectives on the difficulties, prospects, and success stories within our industry.

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2024-04-12 21:07