Blockchain
Tokenized asset market could hit $16T on public blockchains — RippleX VP
In the fast-paced race to digitize financial assets, institutional investors, asset managers, and banks are actively participating, aiming to tap into a market poised to reach a staggering $16 trillion in value.
Traditional finance (TradFi) entities are increasingly embracing the concept of tokenizing financial assets on public blockchains as the competition intensifies in the realm of blockchain-based tokenization.
Markus Infanger, RippleX’s senior vice president, revealed that TradFi players are now taking concrete steps to bring financial assets onto blockchain networks, driven by the need to implement practical solutions and address pain points across various value chains.
In an exclusive conversation with Cointelegraph during Paris Blockchain Week, Infanger emphasized the tangible progress being made as traditional finance begins to integrate blockchain technology into its operations.
“We’re witnessing a paradigm shift in blockchain technology, moving beyond mere speculation and into practical applications. The transition is underway,” remarked Infanger.
TradFi’s inclination towards blockchain extends beyond mere experimentation; it seeks comprehensive solutions that encompass the entire blockchain ecosystem.
Infanger highlighted research projections indicating that the future value of tokenized markets could soar to $16 trillion, a figure significantly surpassing the total market capitalization of the entire cryptocurrency sector by eightfold.
“Just a few years ago, such projections seemed aspirational. Now, they are inching closer to reality, with the bulk of activity occurring on public blockchains. Initially, it seemed confined to private blockchain initiatives like JPMorgan Coin or IBM,” Infanger noted.
He disclosed ongoing advanced discussions with numerous financial institutions exploring tokenization projects to tokenize assets on the XRP Ledger. These institutions have already outlined distribution strategies and articulated specific use cases, illustrating a clear understanding of how they intend to leverage the underlying blockchain technology.
Source: cointelegraph.com
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MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase
MicroStrategy has increased its Bitcoin holdings to 214,400 BTC with a recent purchase of $7.8 million worth of the cryptocurrency. This move further solidifies MicroStrategy’s position as a major institutional holder of Bitcoin and demonstrates its continued bullish outlook on the digital asset.
MicroStrategy, a publicly traded business intelligence firm, has been actively accumulating Bitcoin as part of its treasury strategy, viewing the cryptocurrency as a long-term store of value and hedge against inflation. The recent purchase of $7.8 million worth of Bitcoin adds to the company’s already substantial holdings, reaffirming its confidence in the future potential of the digital currency.
MicroStrategy’s ongoing accumulation of Bitcoin reflects a broader trend of institutional adoption and investment in the cryptocurrency space. As more companies recognize the value proposition of Bitcoin as a hedge against economic uncertainty and fiat currency devaluation, they are increasingly allocating funds to acquire and hold the digital asset.
Overall, MicroStrategy’s decision to boost its Bitcoin holdings with a $7.8 million purchase underscores the company’s conviction in the long-term viability and potential of Bitcoin as a strategic asset. This move is likely to further encourage other institutions to explore Bitcoin as a component of their investment portfolios, driving continued growth and adoption in the cryptocurrency market.
Source: crypto.news
The post MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase appeared first on HIPTHER Alerts.
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