The senior adviser at Coinbase, a major cryptocurrency exchange recently made a claim about the adoption of cryptocurrencies among institutions.
Institutions are Adopting Crypto Very Fast
According to John D’Agostino, the senior adviser at Coinbase, the institutions are showing no signs of adopting cryptocurrencies at a slow rate.
They are being very fast in terms of adopting cryptocurrencies, which is a huge gain for the cryptocurrency industry.
D’Agostino has claimed that institutions are adopting crypto even faster than the technologies that are extremely promising in terms of success and growth.
On October 18, D’Agostino was a part of an interview at SALT that was moderated by Anthony Scaramucci.
During the interview, D’Agostino talked about the typical nature of development for new assets. He claimed that most of the time, the new assets need time before they turn into valuable entities.
Whenever the institutions find an asset to be interesting, they go for it after going through all the aspects, where the most prominent one is ‘expenditures’.
For the institutions to explore an industry or to become part of it, they have to pay a huge cost. However, the situation is not the same when it comes to adopting cryptocurrencies.
D’Agostino’s Take on Cryptocurrencies
D’Agostino went on to claim that he has been in the commodity industry for over 15 years. For all the time he has spent in the commodity industry, he has tried his best to get commodities mainstream status.
Even though he has found his effort to be full of struggle, the cryptocurrency industry does not seem to have faced the same difficulty.
Instead, the institutions have gone after cryptocurrencies themselves, trying to gain as much exposure in the industry as possible.
He stated that what he has not been able to achieve for commodities in his 15 years of efforts, the cryptocurrencies have achieved in just a few years.
This goes to show exactly how vast and popular the cryptocurrency industry is among the institutions.
What May Stop Institutions
D’Agostino went on to claim that although the institutions have shown no lack of interest in adopting crypto, regulatory interference may become an obstacle.
The regulatory authorities in the United States are pretty much against cryptocurrencies and their adoption. Therefore, they may be able to harm the reputation of crypto among the institutions.
As institutional investors hold back, from investing in crypto due to regulatory pressure, then it could hamper the growth of the crypto industry.
D’Agostino predicted that the all-out adoption of the cryptocurrency industry is inevitable. Therefore, instead of resisting cryptocurrencies, the regulators must work to regulate them.