According to Messari president and founder Ryan Silkes, regulators may see the recent growth in cryptocurrency as a problem.
“I have not been more optimistic about cryptocurrencies, but I think everyone can misjudge global regulatory risks,” Silkes said in a tweet Thursday.
“When cryptocurrency looks like a game, it’s not a threat. When stack coins go into PayPal size and become private, they begin to appear as a weapon.”
Within months of falling below $ 4,000 in March 2020, the value of Bitcoin (BTC) exceeded $ 60,000. Defi’s assets have also grown in the last year or so. Yearn.finance (YFI) has grown from under $ 1,000 to $ 48,000, according to CoinMarketCap data. The irreplaceable tokens, the current industry craze, may be the biggest ever – an artist known as Beeple recently sold art to NFT for $ 69 million at auction.
Selkis has set its price target to capitalize on what could be wrong with Bitcoin, which are relatively high regulatory requirements. “I have $ 80,000 in early sales,” he said in a tweet. He said in a separate tweet in response to one of the comments posted on his original post: “5% sell for 80-100 thousand and another 5% for 100-125 thousand dollars.” “Then we’ll see what happens next,” he added.
During the last major cryptocurrency boom in 2017, ICOs or ICOs were a major problem. US regulators stepped up sector management in the following years, and took action against a number of projects. Regulations have also affected cryptocurrencies in other regions in various ways, including the EU with its fifth anti-money laundering directive.