The crypto market in China will grow, and Coinbase may be bought by one of the major players on Wall Street, according to Anthony Scaramucci

Opinion: Cryptocurrency market in China will show explosive growth

“I think such prohibitions are understandable. China is a large country with a population of 1.4 billion and the situation was really difficult. In a very short time, the concept of retail cryptocurrency investors in China will disappear. They will all come out of cryptocurrencies. Only wealthy people and families in China will invest in cryptocurrencies,” said the co-founder of Bitmain.

At the same time, the businessman is optimistic. He believes that bans on the mining of cryptocurrency in the People’s Republic of China will lead to the explosive development of other areas of the industry. We are talking about the emergence of platforms for trading stablecoins and the launch of various blockchain-based gaming startups.

Anthony Scaramucci: Coinbase may be bought by one of the biggest Wall Street players

At the same time, Scaramucci noted that only every tenth institutional investor came to the cryptocurrency market. And the media data on the incredible interest in digital assets on the part of institutions is not a reflection of real cases.

“The institutions are not there Anybody who’s telling you there’s institutional adoption into this space is not being totally honest — or they’re seeing something that I’m not seeing,” said Scaramucci.

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