- Oliver Lynch expressed this thesis during Bitcoin 2023
- In his opinion, it is wrong to try to “squeeze” cryptocurrency into one of the existing sectors of the financial market.
- This is a separate segment, like securities and derivatives
- He is also confident that the need for industry conferences will disappear.
The digital asset market should not try to “squeeze” into the framework of existing financial products, says Oliver Lynch. According to him, in 5-10 years it will be another section of the traditional market, but with its own specifics.
About this Bittrex CEO declared as part of the Miami Bitcoin 2023 conference. Lynch noted that in many countries, lawmakers are trying to view cryptocurrency “through the prism” of traditional financial products.
This is fundamentally wrong. They should be perceived as a completely new part of this market, unique but in line with the basic standards of the sector.
“You have derivatives, securities and cryptocurrencies. It’s just one more thing, right? No need to try to “push” it into the existing framework.”
According to Lynch, in a few years, events like Bitcoin 2023 will simply disappear. Cryptocurrency will smoothly merge into TradFi and become part of this ecosystem, like fiat, stocks or bonds.
Interestingly, Bittrex filed for bankruptcy due to regulatory pressure as well. At the same time, the Securities and Exchange Commission (SEC) is preparing a lawsuit against the company.
