Kraken CEO David Ripley talks bitcoin's halving and what it means for the crypto space

All eyes on crypto as investors await the Bitcoin having where the cryptocurrency is. Future supply is cut in half. This will be the 4th time Bitcoin has gone through this process, but the setup this time is different. For more, let’s bring in crack and CEO Dave Ripley. Dave, great to have you with with us. Why is it different this time around? I mean, we’ve already seen a huge run up and that has happened in every other having. So why is it different this time? Well, yeah, thanks for having me on Melissa. You know, I I think there, there is a lot that is the same for this Bitcoin having there are some new things. You know what is the same? It’s a great reminder of the deterministic supply of Bitcoin. Never more than 21,000,000 first currency in the history of the world to have such a thing. You know what’s different? Well, I mean, I think obviously, you know, the price tends to be a, you know, topic, you know, a high topic here. And so I would say, you know, this is the first time we actually saw an all time high before the having typically in the past kind of bull bear cycles for for Bitcoin, we’ve seen that the all time high come a number of months after the having. So we’re a little bit ahead of schedule this time. But honestly, I think it’s the the more meaningful thing for me at least, is it’s a great reminder of one of the the most magnificent properties of, of Bitcoin. You you say that you don’t necessarily want to focus on this. I mean, this is a catalyst, but there are bigger things like just adoption overall. Where do you see that going now that we have Bitcoin ETFs and how does that play into price? Yeah. So you know, I think a great, great topic as well. I mean over the past four years in this last having cycle, we’ve seen a huge number of of new, new innovations in in Bitcoin and cryptocurrency defy NFTS. We’ve seen institutions come in, governments come in, even El Salvador adopting Bitcoin directly. And we expect more of the same in this, this next four year cycle. A lot of that investment that came in the previous cycle is all kind of been deployed at this point. Builders are building, entrepreneurs are building, and we’ll start seeing a lot of those innovations come out in the not too distant future. And I think that again, the short term movements for, for Bitcoin and cryptocurrency, there is volatility there. There is more uncertainty, but the, the long arc and the, the long trajectory is, is, is going to be a +1. When does this volatility dampen? And I’m, I’m wondering specifically when it comes to Bitcoin ETF, if that in and of, I mean, if, if adoption of the ETF, if adoption of Bitcoin and, and just more holders out there, if that inherently dampens volatility. Well, it does. I mean, certainly the, the more, the more holders, the more liquidity in the system, both those holding and those transacting and those trading. All of these, all of these aspects actually do reduce volatility over time. And so the reality is, while Bitcoin crypto are still is still volatile, they’re not as volatile as they were ten years ago or five years ago. And so we do see that coming down overtime as adoption grows. Now it is still you know an incredibly innovative technology with a lot of new things happening in the in the space. And so it’s not as if volatility is going away completely, but it is coming down generally overtime. So the general trend is for the price to go up and the general trend is for volatility go down again over over the multi year period. So David, when I look at this, I think the the all time highs running to all time highs was a direct reflection of the 11 ETFs that came out, not because of the halving. I think that we’re still on track to make another all time high with after the halving the same way that the other three did that as well. But when you look at use cases, people say you buy Ethereum for use case, you buy Bitcoin as a digital asset. Is Bitcoin going to change that narrative? I you know, marginally, you know, marginally we’ve seen ordinals come on, you know, the Bitcoin network more recently. But look, Bitcoin is the first it’s tried and true it’s digital gold. That’s one of the, the beautiful aspects of it is that it is the most stable from a security standpoint, all of these aspects. And so it that’s, you know, a, a role in the ecosystem and it’s an incredible new innovation for the, for the world from that standpoint, Part of the, the purpose of all of the new networks are in fact to innovate and do something different than Bitcoin. I mean, otherwise, why, why would they even exist? Just, you know, use Bitcoin. And so I think we do see more innovation in other networks of with Bitcoin, it’s, it’s kind of like trying to replace the the landing gear on a triple 777, right? We’re going to like look for more certainty before there’s a change to that network.

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