Former Executive of JPMorgan Chase Daniel masters (Daniel Masters) believes that cryptocurrency «become something that regulators, banks and governments can no longer ignore.» He believes that in the future digital currencies will become part of the global financial ecosystem.
To date, masters heads the digital investment Bank Coinshares, and is the chief investment officer at Globe Advisors.
According to the expert, until last year, cryptocurrencies have been in «regulatory sandbox» — a special legal regime which allows legal entities to implement various experimental financial products without the risk of breaking the law. Cryptocurrencies have been in this mode for the last five years, however, the situation changed when total market capitalization surpassed $ 800 billion.
As noted by the masters, the ecosystem size in 10 to 15 billion in the global financial system is «almost experimental». But the situation has changed dramatically due to the rise in the cost of most digital assets, and governments had to intervene.
Masters is convinced that «the cryptocurrency market will be a lot more and will have a strong impact on the global economy,» but he is not a threat to the traditional financial system, as the cryptocurrencies destined to become part of the global financial ecosystem.
Chairman Coinshares manages cryptocurrency assets, among which are Bitcoin, Ethereum, zcash for, Monero and various token-ICO, in the amount of more than $ 800 million. For the first time masters has invested in cryptocurrencies in 2012, when bitcoin was worth less than $ 100.