Yat Siu, the visionary behind Animoca Brands, delivered a compelling speech at the esteemed WebSummit Rio event on April 16. The panel discussion, titled “Bitcoin’s Revenge: Is Web3 Making a Comeback?”, provided Siu with the perfect platform to express his unwavering belief in the future of Bitcoin (BTC), confidently stating that he has no doubt it will one day reach a staggering $1 million.
Moderated by the esteemed Cointelegraph Ambassador, Kristina Lucrezia Cornèr, the panel also included the presence of Ripple president Monica Long. Long, while acknowledging the significance of Bitcoin’s price, emphasized the importance of the crypto market’s overall development.
In her praise of Brazil, Long commended the nation for its genuine commitment to crypto development, recognizing it as one of the key regions where this technological revolution is truly flourishing.
Cornèr, shifting the focus of the discussion towards Web3, highlighted the empowering potential this technology holds, particularly for individuals who have limited choices in society. She emphasized the significance of giving power back to the people through this innovative platform.
As the panel delved deeper into the topic of Web3, Long shed light on the expected maturity of Web3 companies this year, emphasizing the stark difference from previous market cycles. She also highlighted the growing institutional adoption of Web3, a clear testament to its increasing prominence in the mainstream.
Siu, however, stressed the importance of financial inclusion and its impact on blockchain and Web3 games, asserting that this aspect holds greater significance than institutional adoption.
When discussing spot Bitcoin exchange-traded funds (ETFs), Long revealed that Ripple is actively collaborating with banks and payment companies worldwide to leverage blockchain technology as a transformative layer or infrastructure to enhance the efficiency of global transactions. She also acknowledged the rising interest from banks in the crypto market and expressed the need to establish regulated exposure to this burgeoning industry.
Overall, the panel discussion at WebSummit Rio offered a thought-provoking exploration of the potential of Bitcoin, the significance of Web3, and the evolving landscape of the crypto market.