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The crypto market continues its meteoric rise following the 2024 elections, with bitcoin (BTC-USD) falling above $92,000 not seen since November 18 and showing no signs of slowing down.
In this episode of Shares in TranslationYahoo financial markets and data editor Jared Blikre and producer Sydnee Fried welcome Eddie Johnson, author and CEO of Grow My Bag TVto discuss the latest developments in the crypto and Web3 space.
The discussion turns to Web3 – the next generation of the Internet – focusing on expanding geographies, user identities, and blockchain technology. “For the average person, it’s the next level of the Internet,” Johnson said. “Web3 presents a way for you to immerse yourself in different worlds and experience unique experiences.”
Johnson distinguishes between Web2 and Web3, describing the latter as an evolution rather than a replacement: “Web3 is an extension of Web2; it’s like an overlay, while Web2 completely replaces Web1.”
Looking ahead, Johnson predicts that crypto will become a widely accepted payment currency within the next five years. “The time it took to accept credit cards was decades. The time for crypto adoption is turning into a decade,” he notes.
When asked about leadership at the Security and Exchange Commission (SEC) to regulate cryptocurrency, Johnson advocated for SEC Commissioner Hester Pierce to be promoted to SEC chairman.
“There is a person I recently made an issue about who decided to withdraw from running, that’s why you should make him take this job. And it’s Hester Pierce,” he explains. “If I was looking to replace someone else, I think he has a very logical approach to managing crypto. So I would absolutely convince him to take that job.”
Twice a week, Stocks In Translation cuts through the market chaos, noisy numbers and hyperbole to give you the information you need to make the right trades for your portfolio. You can find more episodes hereor look at yours favorite streaming service.
This post was written by John Tejada.
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