Rosie Rios says you are probably too late to get in on the ground floor if you are just thinking about investing in cryptocurrencies.
The train has already left the station, according to Rios. The technology is here.
Rios is a visiting scholar at Harvard University and she has built her career around investing and cryptocurrencies. She is an investor on the Amazon reality show "Unicorn Hunters" and is a board member for a start-up.
Rios says she has one piece of advice for anyone looking to invest in a platform or asset based on her experiences, and that is to stick to simple questions like "Is the product practical?" or "Is there room for growth?"
Rios believes that assets like NFTs are speculative flash in the pan and will only invest in platforms that have growth potential and real-world value.
She says that whether there is intrinsic value is very meaningful to her.
Understanding how it can be used correctly and whether it can save you time or money is what she means by that. She joined the board of the company because it advertises the ability to facilitate cross-border payments faster and cheaper than traditional foreign exchange services.
Rios says it is not just the future. It is being used all over the world.
Rios hopes that the regulatory clarity will come in 2022. In November, a group of regulators, including the U.S. Federal Reserve, said that lawmakers would give more clarity on how banks and other large financial institutions will be allowed to handle cryptocurrencies next year.
The Securities and Exchange Commission is currently litigating over whether the XRP coin is a virtual currency or a security. It would have to fall under more intense regulatory scrutiny.
The total value of the market was $3 trillion for the first time in November. Major companies like Microsoft and Burger King accept cryptocurrencies.
Others have made plans. Movie theater chain AMC says it will accept the payment of movie tickets in the future, while messaging service WhatsApp is testing a new feature.
Rios is hopeful that more big players will follow suit in the future, or at least have the right mindset to begin these conversations and hopefully provide a path moving forward.
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