The fifth annual Paris Blockchain Week, a three-day event showcasing panels, discussions, and presentations by industry leaders, has come to a close. Cointelegraph was present to capture the key moments of the event, and there were plenty. As we move forward and prepare for the upcoming Bitcoin halving, which is predicted to take place around April 20, let’s take a look back at what happened in France during Blockchain Week.
BTC Expected to Reach $250K?
Tim Draper, a venture capitalist known for his investments in companies like Tesla, Baidu, Coinbase, and Twitch, believes that Bitcoin could surpass its current all-time high price of around $72,000 per coin by the end of the year. In an interview with Cointelegraph, Draper stated, “If I had to make a prediction, we could possibly see $250,000 by the end of the year; it’s looking very promising.”
Crypto Market Cap to Reach $100T?
If Draper’s bold prediction for BTC isn’t enough, eToro CEO Yoni Assia believes that the global cryptocurrency market will reach a market capitalization of $100 trillion in the next decade. To put this into perspective, the current global market cap of gold, the precious metal, is around $16.18 trillion at the time of writing this article.
However, Assia’s most intriguing prediction is that “the crypto community will be the first to identify singularity,” referring to a hypothetical point in the future where an artificial intelligence (AI) entity becomes more capable or intelligent than any human. Assia argues that defining consciousness is a challenging task and that the crypto community is well-positioned to address this concept.
Binance Moves Forward
While many companies would struggle to remain optimistic after being hit with a $4.3 billion settlement from the U.S. government, Binance is looking ahead. Catherine Chen, an executive at Binance, expressed the company’s positive outlook on the challenges it faces post-settlement. During a panel discussion at Paris Blockchain Week, Chen stated that the monitoring restrictions imposed on the company would ultimately benefit the industry.
Bitcoin ETF Inflows Still Dominated by Retail Investors
Jan van Eck, CEO of investment management firm VanEck, revealed that approximately 90% of Bitcoin ETF inflows are still driven by retail investors. Traditional banking and institutional investment sectors have been hesitant to enter the BTC ETF market. Van Eck believes that non-traditional investors may start showing interest at the end of April.
Dubai Eases Regulatory Burdens for Small Investors
Matthew White, CEO of Dubai’s Virtual Asset Regulatory Authority (VARA), discussed a new system that aims to shift the majority of regulatory financial burdens onto larger players. If implemented, this system would relieve small investors of some regulatory obligations.
Ubisoft Teases a Blockchain-Based Game
Ubisoft, a major gaming publisher known for popular titles like Assassin’s Creed and Rainbow Six, announced its latest web3 game called “Champions Tactics.” This blockchain-based competitive PVP turn-based role-playing game aims to give players the power to own and populate the game with figurines. Ubisoft highlighted the importance of understanding the market and ensuring a successful game launch.
Overall, Paris Blockchain Week brought together optimistic entrepreneurs and professionals who shared insights on the challenges, opportunities, and successes in the industry.