Grayscale CEO: The Crypto Winter Has Passed, Market Overly Focused on Price Volatility While Ignoring Long-Term Growth Trends

BlockBeats News, August 28, according to *Fortune*, Grayscale CEO Peter Mintzberg wrote that Bitcoin rose about 20% last week, marking the strongest three-day rally of 2023, indicating that the months-long "crypto winter" is fading. However, he believes the market should not focus solely on short-term rebounds or sell-offs, as the long-term integration of digital assets into the mainstream financial system is a more significant trend. Mintzberg pointed out that by 2025, the daily fund flow scale of Bitcoin ETPs often exceeds $500 million, approximately 12 times the daily value of newly mined Bitcoin. Although U.S. spot Bitcoin ETPs experienced eight consecutive weeks of net outflows earlier this year, they have seen three consecutive weeks of net inflows as of late July. A survey by Ernst & Young of over 350 institutional investors also revealed that 73% plan to increase their allocation to digital assets. Corporate adoption is also steadily advancing. By 2025, about 60% of executives from Fortune 500 companies indicated their firms are working on blockchain projects, while institutions like Fidelity, Visa, and Stripe are advancing stablecoin initiatives. Mintzberg believes that AI and blockchain are not competitors. The demand for machine-native micropayments and instant cross-border settlements generated by AI agents may further drive public blockchain applications. [Original Link]