Blueprint Capital CEO Jacob Walthour believes liquidity could flow into the crypto industry soon enough
Jacob Walthour, the chief executive officer of the Seattle-based Blueprint Capital investment company that deals with real estate and land, has told CNBC’s Joe Kernen during the Squawk Box show talk today that it may be a mistake to ignore cryptocurrencies as an asset class now.
He also described a scenario in which a large amount of liquidity could start pouring into the crypto space from investors.
“I’m very constructive on crypto”
Jacob Walthour admitted that he is “very constructive” on crypto. He reckons it a mistake to ignore cryptocurrencies now, which looked, as he put it, like the wild west five years ago or so. The reason is that over the past 12 years, its adoption has expanded greatly, and BTC is now accepted by business giants that work in the retail market. He named Starbucks, AT&T and PayPal, which adopted Bitcoin and other crypto last year for their customers.
Additionally, Walthour reminded the CNBC host that there are now more than 200 exchanges around the world that allow users to trade cryptocurrencies, and that approximately 14% of the US population has invested in digital currencies.
The Blueprint Capital chief added cryptocurrencies to the evolution chain of money: First it was cash, he stated, then someone came up with the idea to use checks and plastic cards for payment. He believes that within the next five to ten years, crypto may well be built into the system of everyday payments globally as the next link in this chain of money evolution.
This is when liquidity can flow into the crypto space: Walthour
As for strengthening crypto as an investment asset, Jacob Walthour believes that if we see a crash in the US stock market, the mindset could turn positive towards crypto and in that case liquidity will start to flow as well. from stocks to digital currencies. .
Crypto cannot solve financial inequality: Sen. Warren
The Democratic senator from the state of Massachusetts, who is “at war” with Elon Musk over his taxes this year, has stated in her recent tweet that cryptocurrencies are unable to solve the global issue of financial inequality.
She reminded her Twitter followers that only 1% of Bitcoin wallets hold the greatest amount of BTC, and an even greater proportion that the wealthiest hold most of the USD in circulation.
The senator believes that the U.S. government needs to come up with “real solutions” to make the financial system indeed work for everyone and not just for a tiny group of wealthy individuals.
