U.Today - Despite pale price action and aggressive regulatory crackdown, top-tier experts stay bullish on the long-term prospects of digital assets. Lumida Wealth CEO Ram Ahluwalia explains why some bearish triggers might be already priced in and what makes the BlackRock (NYSE:BLK) Bitcoin Spot ETF application special.
"Ten reasons to be bullish on digital assets": Seasoned expert shares optimism
Ahluwalia, CEO of SEC-registered digital assets-focused firm Lumida Wealth shared a thread to overview the 10 most important reasons to be enthusiastic about digital assets right now. According to his thread today, we should not overestimate the effects of regulators' hostility toward digital currencies.First of all, he highlights that Bitcoin (BTC) is the best performing asset class "year-to-day" despite overall bearish sentiment dominating.
Regulatory attacks on Binance (BNB) performed by the U.S. SEC and Department of Justice were already "priced in," and therefore should not be treated as "black swans." Also, Bitcoin Spot ETF approval is inevitable, though BlackRock's current filing might still be rejected by the watchdog.
Nevertheless, the hypothetical BlackRock ETF is an excellent use case for tokenization as it paves the way to putting financial assets on-chain. In a number of years, all regulatory issues with cryptocurrencies will be solved for good, Ahluwalia highlights.
Healthiest crypto rally approaches
This is why the "under-owned" status of digital assets unlock perfect accumulation opportunities for long-term investors.With more opportunities to join the crypto rally, the upcoming surge looks "healthier" for the expert. Tokenization will be the name of the game, together with NFTs and on-chain gaming.
Also, the anti-crypto attacks of U.S. regulators result in increased global competition. The next rally will be driven by companies in Singapore, Japan, the EU, Hong Kong and so on, he concludes.
At the same time, this hostility is set to make the sphere "clearer and sturdier."