- The CEO of Voyager Digital says Ethereum is the backbone for all NFTs in the market.
- He says that the price of all cryptos will go up over the next six months.
- Bitcoin, much like the stock market, will gain popularity over time.
In an interview with Yahoo Finance, Stephen Ehrlich, CEO of Voyager Digital, shares his views on the crypto market. In particular, he highlights all the interesting observations he’s made based off the activity on the Voyager platform.
Firstly, he draws light to the real-time trades taking place on the platform. Specifically, he says there are about 6-1 buyers over sellers. Moreover, the platform has over 1.6 million active traders. Every day these traders can access over 60 different coins on the platform.
In detail, Ehrlich mentioned that the most popular coins on the platform are — Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), and Shiba Inu (SHIB). He believes that users can make long-term gains as he is certain that crypto prices will soar over the next six months.
On the matter of future regulations, Ehrlich says it is no cause for concern. In fact, he is sure that more regulations will be fair and thoughtful and will inevitably be good for the industry. Moreover, on the wavering price of Bitcoin, Ehrlich has some interesting thoughts to share.
He says people will come in and invest a lot of money over time. Much like the stock market which took about 200 years to get to where it is now, Bitcoin will get there too. More so, there will only ever be 21 million Bitcoin. This means the demand to buy Bitcoin will only grow.
Just simple supply-demand economics say there’s gonna be more people wanting to get a limited supply of coins. So the price should go up.
Meanwhile, his thoughts on altcoins are also in high regard as “there are some great projects out there”. Most consumers are excited for all of them, Voyager, in particular, gets a lot of interest for Polkadot (DOT) and Cardano (ADA). Also, he mentions how smart contracts have revolutionized the industry.
Finally, he specifies that Ethereum is the backbone for all Non-Fungible Tokens. Therefore, he concludes by saying that the features that come from altcoins, smart contracts, cryptos, NFTs, and more are important. Above all, they contribute to the success of the whole industry by creating a foundation for our entire economic system on a long-term basis.