Speaking to Kitco News, Kamalabadi suggested that the maiden cryptocurrency’s maturity will be long-term guided by factors like adoption and value increase. According to Kamalabadi, maturity will be attained once Bitcoin continues to integrate with the traditional financial sector. He notes that based on Bitcoin’s limited supply and projected value increase, the crypto will gradually give way to what he termed as ‘digital financial asset,’ which will be a crucial indicator of maturity. At the same time, he stated that the single Bitcoin dominance would be reduced, suggesting that more tokens and other cryptocurrencies would emerge, resulting in high valuation. Kamalabadi notes the emergence of new tokens will not replace Bitcoin and Ethereum but diversify the sector.
Bitcoin’s rally continues
His sentiments come as Bitcoin continued its rally on Tuesday, hitting new all-time highs of above $68,000. Similarly, Ethereum also attained a record price mark of $4,800, targeting the $5,000 level. Since last month, the crypto market momentum has surged after the United States regulator Securities Exchange Commission approved the first Bitcoin exchange-traded fund. By press time, the asset was trading at $66,800, having gained 5% over the past seven days. Related video: When will Bitcoin reach full maturity? Farzam Kamalabadi [coinbase]
