Crypto Bahamas 2022: Bitcoin price predictions and digital trends in focus

By April 29, 2022Bitcoin Business
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Yahoo Finance’s David Hollerith joins the Live show from the 2022 Crypto Bahamas conference to discuss bitcoin price predictions and digital trends.

Video Transcript

BRIAN SOZZI: All right, from food to crypto, let's head over to the Bahamas. That's where we find our cryptocurrency reporter, David Hollerith, who is running point for us at a key crypto conference. David.

DAVID HOLLERITH: Brian, it's day three, Thursday of the Crypto Bahamas conference. And it's generally a mingling of crypto native firms and Wall Street firms looking to get in on the action. I think some highlights I've seen is, yesterday, on a panel with Galaxy Digital's Mike Novogratz, we saw Cathie Wood sort of hit on this topic that keeps coming up, and doesn't necessarily have anything to do directly with the conference, which is the conversation of Twitter and what Elon Musk could potentially do with Twitter. He's talked about seeking to democratize the platform more.

We're not sure what that means exactly, but many in the crypto community are at least hoping or potentially thinking with Twitter's verification system, and it's already it has adopted sort of payments or payment rails to allow accepting in transactions for cryptocurrency. Wood was sort of expressing her usual bullishness on Bitcoin as a means to be used as a payments rail through Twitter. So we're not-- again, we're not necessarily sure how that looks.

Anthony Scaramucci, the CEO and founder of SkyBridge Capital, also sort of hit on the same topic. And he even suggested during a press conference that someone like Sam Bankman-Fried, CEO and founder of FTX Exchange, might be somewhere in the ring for financing or working with Musk. But most of that still remains hearsay at this point.

JULIE HYMAN: So that's sort of the [INAUDIBLE] that's happening there, the sideline [INAUDIBLE], I guess, in terms of the off-topic stuff. What about the megatrends that you're teasing out from the conversations there?

Yeah, so, Julie, there's always this conversation that goes on around the crypto sector, which is sort of, where is institutional adoption? And at the beginning of the conference, I heard things-- Sam Bankman-Fried had actually said, it's sort of this trickling of large institutional firms looking to get involved, still facing regulatory and compliance issues, you know? So they're typically looking at crypto native firms to sort of allocate equity to them and see-- let them sort of run free, which is an interesting development.

David Hollerith reporting live for us out there in the Bahamas. Enjoy the rest of your day.

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