Justin Sun, CEO at Tron, believes that cryptocurrencies offer opportunities for a new, younger generation of investors.
He was speaking to CNBC about Bitcoin and cryptocurrencies generally when he said that he was optimistic about the future of crypto.
According to the TRON’s CEO, the development of protocols like the Lightning Network, as well as the recent involvement of institutions like JP Morgan and Facebook in the tokenised space, indicates the growing utility of digital assets.
Christopher Giancarlo, the head of the United States Commodity Futures Trading Commission (CFTC) supported Sun’s views in a speech he gave on 14th March, where he described cryptocurrencies and blockchain technology as massive drivers in the transformation of the modern-day investment market.
Sun was asked about the views of Bitcoin critics like Warren Buffett, with regard to its utility. In response, Sun said that cryptocurrencies are more of a technology than a business opportunity and added that virtual currencies present great opportunities for the younger generation while declaring that Bitcoin and other cryptocurrencies are “the next wave of the Internet.”
Focus on mass adoption
The Tron CEO also claimed that the greater focus now should be on mass adoption, rather than on measurements like market capitalisation. From Tron’s perspective, and the company has a market cap of around $1.5 billion and is the 10th largest cryptocurrency, its focus is on the business development and technological aspects. Tron acquired the file-sharing platform BitTorrent last year and as Sun explained, the company is taking steps to integrate cryptocurrency and blockchain technology into the BitTorrent network. By so doing, Sun believes that they can onboard the platform’s over 100 million active users across 138 countries onto a vibrant decentralized platform for file sharing. Sun also believes that if Facebook launches a token, this will guarantee wider adoption of digital assets globally.