Appliqate Inc. recently acquired company, ELEV8, sits down with Michael Terpin, CEO of Transform Group and Managing Director of Transform Ventures, to discuss the Future of Digital Assets.
ELEV8’s Chairman and Co-Founder Todd Brockman caught up with Michael Terpin, the CEO of Transform Group, the leading advisory and PR firm for the blockchain industry. Terpin shared his thoughts on the current climate in the Digital asset world and what the future may hold.
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On Tesla’s recent purchase of $1.5 billion in bitcoin, and plans to accept it as payment, Brockman raised the question of how the Musk Factor impacts the digital asset market. Terpin’s opinion was that the impact was “Huge. It makes bitcoin more functional than gold and safe.” Tesla’s move into bitcoin represents an investment of a significant percentage of its cash in the investment. According to its most recent filing, the company had more than $19 billion in cash and cash equivalents on hand at the end of 2020.
Decentralized finance has grown from 100 million dollars in late 2019 to nearly 80 billion today. Brockman asked, “why are you so focused on defi now?” Terpin references many events that happen when other countries have debased their economies. He says that “there are a lot of people thinking it’s going to happen to the United States.” In his opinion, the belief that the United States can keep printing money is foolish. It doesn’t mean the dollar will disappear, but according to Terpin, he does believe it will lose “purchasing power.” Which leads to the interest in defi.
“Imagine when the rest of the world is not even interested in Bitcoin and realizes that they are able to make 10%,15%, 20% percent interest on their money,” said Michael Terpin, CEO, Transform group. Terpin is currently working on a book called “Pandoras Blocks” soon to be released. Terpins price predictions for 2021 for Bitcoin are $100,000 by end of year and Ethereum are $3,000 by end of year. Terpin further elaborated that most critics of cryptocurrencies don’t actually own them.
“With the digital asset and blockchain community continuing to demonstrate impactful results, there is a great need to continue educating investors and other markets. ELEV8 convenes organizations that will share how they are successfully solving major challenges by leveraging emerging applications and building the financial infrastructure of the future,” said Todd Brockman, Co-Founder, ELEV8. Additionally, Brockman said, “Invest at your own risk.” He mentioned Brock Pierce, who appeared in an interview with Maria Bartiromo on Fox News, and Brock said, “Invest in Yourself” Brockman adds:” Cryptocurrencies are very risky, do your due diligence, and ELEV8 is not a financial advisor.”
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