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Eddie van der Walt, Bloomberg’s market expert, feels that cryptocurrencies experienced a significant breakthrough as crypto has become a vital “part of the financial furniture.”

In contrast to what happened a few years back, when financial experts and institutions believed that Bitcoin and other assets will go to zero and also referred to these assets as worthless, today has seen great changes in that regard.

In 2021, the crypto world saw many ETFs emerge. Also, the expert revealed that there have been some IPOs, including Coinbase exchange, in the crypto space.

Walt believes that cryptos will define “what they mean, what they are and what we will do with them.” Particularly, Walt talked about top-tier blockchains like Ethereum and Cardano, revealing that they “have taken on the NFT space and have moved in the narrative a little bit forward in terms of what we are gonna do with cryptocurrencies”.

Since regulators are just awakening to decide the way to handle the crypto space, most especially in the U.S., Walt believes that since cryptocurrencies have never been regulated before, regulation will just be a big risk factor for them. In the short term, this could affect cryptocurrencies negatively.

In the long term, crypto assets’ regulation would come good. According to him, it will allow both private and institutional investors to become involved with them.

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