Kenneth Fisher, the billionaire CEO of Fisher Investments has said that crypto is no longer a potential risk. His statement follows after his recent interview with CNBC-TV18 where he admitted that crypto poses serious risks to the financial systems. In the same interview, Fisher then forecasts 2022 bringing good times for the stock markets and the crypto industry. In addition, he then shared his beliefs as to why it’s unlikely that crypto poses a potential risk in 2022.
“I do think it’s a potential risk, but I don’t think it’s a potential risk that is likely to be a problem in the year 2022. Probably afterwards.”
Kenneth Fisher Says Crypto Risks Unlikely To Persist Into 2022
The anti-crypto billionaire insists that things like cryptocurrencies are made to burst. That is, the bear market will continue to steep lower until it hits rock bottom someday. But despite his stance on crypto, Fisher claims 2022 is not the year for it to become a problem. According to him, probably soon afterwards.
Speaking to CNBC-TV18, Fisher analyzed how “the bursts” usually happen. He says after what looks like a normal bear market starts, albeit gently, it then begins to get more violent. It is in these violent times that everything blows up, posing real problems for financial systems, Fisher told CNBC-TV18.
Growing Popularity of Virtual Assets In 2021
Year 2021 saw Bitcoin achieving many unimaginable feats, even though the world still stands divided on the decentralised industry. From institutional giants pumping millions of dollars into crypto investments to countries adopting Bitcoin as legal tender. The industry has really performed beyond expectations.
Data from the 2021 Chainalysis Global Crypto Adoption Index also claims that there were more new cryptocurrency adoptions from residents of many countries around the world this year.
From the data collected from the index scores of 154 countries and in comparison with global adoption by Q2 2020, Q2 2021 saw an amazing spike to bring global adoption from 2.5 to 24.
This means that global adoption has grown by over 2300% since Q3 2019 and more than 881% in the past year alone.