In a recent interview with Bloomberg, the co-CIO ‘Joey Krug’ said that scalibility enhancements for Bitcoin [BTC] were essential to spark a shift within the deflated prices seen throughout this year.
Adding further, he told the network:
“These are all markets, and so if you don’t have scalability, you don’t have market makers.”
The comments came days after when new developments on the institutional trading facet of Bitcoin markets, with Fidelity Investments revealing it was absolutely testing a regulated custody solution for investors and hedge funds.
While reactions from finance figures like Galaxy Digital’s ‘Michael Novogratz’ were positive, the news however didn’t tshift market sentiment or worth of BTC.
For Krug, this is as a result of sentiment requires signs of adoption of Bitcoin [BTC] within the current climate, that successively depends on capability improving. To it end, however, the executive voiced doubts regarding Bitcoin itself ever having the ability to compete with payment networks including Visa and MasterCard.
“I don’t know if this will ever happen for Bitcoin [BTC], however I do assume we’ll see blockchains as quick as Visa or MasterCard within the next few coming years,” he continued , adding that such enhancements might even so spark “10x” value hike in 2 years’ timeline.
Developers continue to work on enhancements for the amount of transactions Bitcoin [BTC] can handle, chiefly through off-chain solutions like the Lightning Network.
The downtrend in crypto markets since Jan 2018 has in the meantime meant Pantera has seen its fortunes tested in recent months, earlier in the month of Oct. revealing statistics showing its Digital Asset Fund was down over by more than 40% since its beginning.