Former Bitcoin.com CEO sees crypto prices plunging in 2022
In December 2020, Stefan Rust successfully predicted a ‘Cambrian Explosion’ of crypto tokens. Now he says 2022 will be when the crypto markets will be ‘flooring out.’
Welcome to Forkast Forecasts 2022. In this series, leaders, innovators and visionaries in blockchain-related fields tell Forkast.News their predictions for the year ahead.
Stefan Rust is the founder and CEO of decentralized finance incubator Hydro Labs and the founder and leader of tokenized venture capital and impact investment fund Sonic Capital. Rust also founded and leads Trusted Node, a proof-of-stake (PoS) validator for rewards and governance that allows users to participate in PoS networks without the need of operating nodes. Rust is best known as the former CEO of Bitcoin.com. Rust took part in last year’s Forkast Forecasts.
Predictions for 2022
Demand for blockchain space:
“As everything goes digital, as everybody tokenizes, as we see the rise of stablecoins, we see the emergence of CBDCs (central bank digital currencies) coming out — everything is going to start to get tokenized. What is needed? We need infrastructure, we need roads. That is — in the blockchain world — block space. I need space in each of the blocks across this distributed ledger network. So, block space is going to be one thing that’s really going to grow and is going to be super important.”
More power for the metaverse
“Every metaverse is going to need a huge amount of compute power. If that’s distributed across a network of validator nodes, those validator nodes need to have huge uptime, huge compute power, big IO. So power, ping and pipe is what’s going to matter.”
The next crypto winter
“We’ve got to be careful because next year, there will be a flooring out. We will come down. It can’t always be high. We were here in 2017, 2018, and we had a big boom and we came down. I’ve been through these rides four or five times now and these are going to go down again.