Veteran crypto investor Arthur Cheong believes one sector of digital assets offers long-term holders a golden opportunity.
Cheong, the founder of DeFiance Capital, tells his 171,700 followers on the social media platform
According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial companies (TradFi) in the dust.
“I haven’t been this excited about the risk/reward and potential benefits of DeFi for a while now. Probably the most mispriced moment since the pre-DeFi summer of 2020 with extremely bright prospects.
I see opportunity not only in OG (original) DeFi, but also in some newer projects that are rapidly iterating and growing at a pace that fintech startups will do everything they can to achieve.”
So does the experienced investor believes that crypto is now here to stay after the recent launch of Ethereum (ETH) exchange-traded funds (ETFs) last week.
“The bigger picture is that the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because guess what: they are in huge demand!
I expect they will launch actively managed crypto ETFs [in the] Next Years.”
Earlier this month, Cheong suggested that it may be the wrong strategy for crypto to pursue mass adoption, believing that digital assets are designed to disrupt several key financial sectors.
“I think we have to accept that it is possible that crypto is not suitable for mass adoption like web2, but is instead optimized for certain limited, extremely high-impact use cases such as global sovereign money, cross-border payments and decentralized finance.
Pursuing normie mass adoption could be pursuing the wrong grail from the start.”
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Featured image: Shutterstock/ktsdesign