Crypto Christmas With STORM: Should Bitcoin ETF Be Off Your Wishlist?
In this interview, we spoke with Sheraz Ahmed, Managing Partner at STORM and founder of Decentral House, about the potential downsides of approving a Bitcoin spot Exchange Traded Fund (ETF) in the United States. Ahmed believes that the industry is still too early for the next cycle and that the business models for decentralized applications (Dapps) have not evolved. He warns against entering another vaporware cycle or risking investment in “shitcoins” and scams. When comparing the industry to early 2021 and 2017, Ahmed notes a bit more maturity but questions whether genuine interest from institutional players can be converted into adoption.
The Next Frontier: Where Does the Crypto Industry Go From Here?
Ahmed disagrees that the approval of a spot Bitcoin ETF in the US indicates that crypto has made it to the mainstream. He sees it as an indication that bankers believe they can make money from the industry. While it may bring short-term price increases and more attention, he cautions against the potential negative impact when big players enter and potentially crush everything in their path. Ahmed believes that having the right tools and guidance is crucial for navigating the Web3 space successfully and encourages collaboration to create an industry of trust.
Hot Take: The Importance of Trust and Guidance in Crypto
In 2023, Decentral House was founded as an innovation center focused on blockchain-based applications. Ahmed emphasizes the need for the right tools and guidance to navigate the crypto industry successfully. Without them, he warns that success may be elusive. By working together to create an industry built on trust, Ahmed believes that there is a light at the end of the tunnel for crypto enthusiasts.
Cover image from Unsplash, chart from Tradingview
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