We ask the builders in the blockchain and cryptocurrency sectors for their thoughts on the industry … and we throw in a few random zingers to keep them busy!
This week our 6 questions go to Yoni Assia, the co-founder and CEO of eToro.
Yoni Assia is co-founder and CEO of eToro, the social investment network with over 23 million registered users from more than 100 countries. Yoni is widely recognized as a crypto pioneer, having co-authored the whitepaper Colored Coins with Ethereum inventor Vitalik Buterin in 2013, Basic Income for the World through New Crypto Asset Technologies. He has long been an advocate of various approaches to wealth and capital allocation and in 2008 introduced the GoodDollar concept in a white paper entitled The Visible Hand. Yoni holds a BA in Management and Computer Science and an MSc in Computer Science from Reichman University (IDC Herzliya), Israel.
1 – What kind of consolidation do you expect in the crypto industry in 2021?
We are almost at the end of 2021 and what a year it has been for crypto, with lots of coins reach new ATHs, the Introduction of a Bitcoin ETF in the US and the growing demand for crypto from both retail and institutional investors. We have seen more and more traditional companies adopt crypto and the underlying blockchain technology, and this will only go on.
This year has been about continued growth and mainstreaming of crypto, but as the industry matures we will see consolidation. Ultimately, I’m very optimistic about the outlook for crypto – blockchain technology will revolutionize finance.
2 – What’s more silly: $ 500,000 Bitcoin or $ 0 Bitcoin? Why?
$ 0 Bitcoin (BTC), easy. I bought my first bitcoin in 2010, and 11 years later I’m still investing in bitcoin and running a company that makes it easy for others to do too. Crypto is still an emerging asset class and Bitcoin, the first and largest crypto, is only 12 years old. It may take some time to hit $ 500,000, but the future looks bright for BTC and crypto in general.
3 – Which people do you find most inspiring, interesting and funniest in this area?
I have to mention my eToro team. I am fortunate to work with some of the brightest, most dedicated, and inspiring people in the industry.
Looking beyond eToro, I recently attended the Milken Institute Global Conference. The event brought together many of the world’s brightest and most influential people to discuss the most pressing challenges we face around the world. Under the heading “Charting a New Course”, the conference focused on how the recent disruptions can be “re-designed” for a “prosperous future”. I was deeply inspired and even more determined to advance GoodDollar – a digital blockchain project that aims to achieve universal income on a global scale. The income gap is a global crisis and GoodDollar’s goal is to bring the next 100 million people into the digital economy.
4 – What was the most interesting place you have ever visited?
In 2020, I was fortunate enough to have dinner with Warren Buffett in Omaha, Nebraska. It was an honor to meet one of my heroes and a life changing moment for me. The two most important realizations for me were:
- Investing can be easy when you invest in companies that you understand and believe in. If you follow the rules of value investing over a long period of time, you can be successful as an investor.
- The most important investment you can make is in yourself.
5 – Which two superpowers would you most like to have and how would you combine them for good … or for bad?
I will cheat and name three. I’ve always said that I want to be able to teleport, heal, and have the ability to shake hands with someone and know all they know. My aim is to use power for good.
6 – Choose the most memorable moment from your favorite movie.
For me it would be the end of the scene The matrix (1999), directed by the Wachowskis, when the main character Neo has to choose between a red and a blue pill.