Crypto appears to be in a bull market, perhaps not by a technical definition, but most of the attendees at ETHDenver would agree that it sure feels like it.
Even Ethereum co-founder and Consensys CEO Joe Lubin believes that things are looking up for crypto, and he’s convinced that the best is yet to come.
On Feb. 29, Lubin joined the “What will drive the next super cycle” fireside chat moderated by Axios reporter Crystal Kim, and during the conversation, Lubin touched on the current “super cycle,” whether or not a spot BTC and ETH ETF are good for retail investors and the more developer-focused community and the growing need for decentralization in multiple industries.
When asked what would catalyze the next super cycle — a long period of economic expansion that is typically driven by strong growth in the demand for products and services — Lubin said,
Lubin explained that “crypto was born into an era of free money. It was born of an era of constrained money, controlled money, top-down command and control. Essentially, we for millennia have been living in a paradigm of centralized top-down trust and its authorities imbue intermediaries with certain powers and the intermediaries help run the world, they maintain these databases or ledgers that control who owns what and who has rights and privileges.”
Before spot Bitcoin ETFs were approved, crypto advocates and investors had waited more than 7 years for an approval, and while their launch may be the validation stamp that authenticates BTC’s status as a sound investment, there have always been concerns that institutional investors could dilute the true vision of Bitcoin creator Satoshi Nakamoto.
When asked whether a spot Bitcoin ETF and the possibility of an ETH ETF were good for the community, Lubin said, “there are a lot of different issues in there, but in the near term, it’s a great thing.”
Related: SEC’s Hester Peirce wants more decentralization in the financial system
Historically, regulators and politicians in the U. S. have taken a pretty firm stance against the crypto industry, and many believe that this has hampered the sector’s growth for years. When asked if crypto can “thrive” in the U.S., Lubin suggested that the decision to obstruct the growth of the crypto industry may not be in the hands of policymakers anymore.