In a recent interview with Bloomberg, the co-CIO ‘Joey Krug’saidthatscalibilityenhancementsfor Bitcoin [BTC] were essential to spark a shiftwithin thedeflatedpricesseen throughout this year.
Adding further, he told the network:
“Theseareall markets,and soif you don’t havescalability, you don’t have marketmakers.”
The comments came days after whennew developments on the institutionaltradingfacetof Bitcoin markets, with Fidelity Investments revealingit was absolutelytesting a regulated custodysolutionfor investors and hedge funds.
While reactions from finance figureslikeGalaxy Digital’s‘MichaelNovogratz’ were positive, the news howeverdidn’t tshift market sentiment orworth ofBTC.
For Krug,this isas a result ofsentimentrequiressigns of adoption of Bitcoin [BTC]within thecurrent climate,thatsuccessivelydepends oncapabilityimproving.To itend, however,the executivevoiced doubtsregardingBitcoin itself everhaving the abilitytocompetewith payment networks including Visa and MasterCard.
“I don’tknowifthis willever happen for Bitcoin [BTC],howeverI doassumewe’ll see blockchains asquickas Visa or MasterCardwithin the next few coming years,” hecontinued, adding that suchenhancements mighteven sospark “10x”valuehikein2years’ timeline.
Developerscontinue towork onenhancementsforthe amountof transactions Bitcoin [BTC]canhandle,chieflythrough off-chain solutionslikethe Lightning Network.
Thedowntrendin crypto markets sinceJan2018 hasin the meantimemeant Pantera has seen its fortunes tested in recent months, earlier inthe month of Oct. revealingstatistics showing its DigitalAssetFund was down over by more than40%since itsbeginning.