Alex Tapscott says the current bear market offers opportunities for businesses and investors.
Alex Tapscott is “an entrepreneur, author, and seasoned capital markets professional who focuses on the impact of Bitcoin, blockchain, and other digital assets on commercial and financial markets.” He is “the co-author of the critically acclaimed non-fiction bestseller, Blockchain Revolution, which has been translated into over 15 languages and has sold over 500,000 copies worldwide”.
In 2017, Tapscott “co-founded the Blockchain Research Institute (BRI), a global think tank studying blockchain strategies, opportunities, and use cases.” In November 2020, he “joined Ninepoint Partners, an independent, employee-owned company serving investment advisors and institutional investors, as Managing Director to launch the new digital asset group.”
In an interview with Cointelegraph, Tapscott, managing director of Ninepoint Digital Asset Group (a division of Ninepoint Partners, LP), said bear markets provide an opportunity for the industry to focus on construction. He urged investors to look beyond fluctuating prices and instead focus on the underlying value being built.
Crypto winters are always the best time to delve into these basic concepts, get the job done, and build for the future. The latest bear market brought us the NFT revolution, decentralized finance, stablecoins and games to win.
Tapscott continued, predicting that the current bear market would allow time to lay the groundwork for Web3, in addition to developing decentralized finance (DeFi) as a legitimate financial instrument.
He called DeFi an “accelerator” of the financial services revolution, noting that Bitcoin previously served as the spark to ignite the fire. Tapscott encouraged investors to also research developments in Decentralized Autonomous Organizations (DAOs), particularly how they could be used to help existing businesses.
Tapscott concluded by advising investors to hold steady during the bear market, noting that “the most successful people in crypto are the ones who can keep calm and carry on.” He recommended investors ignore the short-term trends on the charts, which were disastrous at the start of the bear market.
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