It is not news anymore that the crypto industry is now a part of the mainstream culture and economy. However, the extent of its reach is still debatable. Asset management company JMP Securities has now stated that the crypto industry is now at its nascent stages of mainstream entry. JMP Securities also stress early use cases, saying that they helped create an ‘escape velocity’. However, JMP Securities reiterated that the industry is still far from mature.
The most important takeaway from the notes shared by JMP Securities is that any ‘binary conclusion’ about the future of crypto can be ruled out for now. It is no longer a matter of $100,000 or $0. The future will see cryptocurrency in diverse ways, and it will be an integral part of our economy, knowingly or unknowingly.
JMP Securities also mentioned the problem of scams, frauds, money laundering, and the overall illegal activities linked to crypto-related transactions. Regulations are a debatable subject in the crypto space. JMO Securities, nonetheless, did not fail to mention that regulations in the crypto space are extremely underdeveloped. The note ends in an optimistic note, with JMP Securities remarked that many of the shortcomings of the sector would be resolved in the future.
Cryptocurrency is no longer a niche domain for fintech experts or computer geeks. The approval of Bitcoin-based ETFs marks another event suggesting mainstream entry of cryptocurrency. In the present scenario, JMP Security’s observations are neither unique nor groundbreaking but reassert the notion that crypto enthusiasts always believed in it.