More often than not, discussions pertaining to Bitcoin always move into the territory of price volatility and how there is no money to be made within such a market. In this regard, XAPO CEO, Wences Casares, has remained one of the strongest supporters of the crypto industry.

Casares, the Founder of Bitcoin wallet and payment platform Xapo, has been associated with the crypto domain since its very inception. Not only that, he is also one of the primary figures who have been credited with sparking the 2016 Silicon Valley blockchain boom.

Talking with a respected international media outlet recently, Cesares, who has affectionately been given the title of “patient zero” for his work in spreading awareness regarding crypto, spoke about the “frenzied ethos” that seems to have engulfed many altcoin supporters and investors in recent times— a sentiment which Cesares has likened to an “infectious virus”.

Moreover, when talking about the current state of the digital asset industry, Cesares mentioned that most investors and analysts “don’t really get crypto” since they view them primarily as volatile assets. However, in his opinion, crypto and blockchain offer the world with a technology that has to be looked at from a long-term POV. In this regard, Cesares likened blockchain to the early iteration of internet and how it took time (around 10 years) for people to start finally viewing the tech as a viable medium for data exchange.

As has been observed globally, blockchain technology seems to be reaching a point wherein its adoption has increased quite significantly over the past year or so. For starters, big name conglomerates such as IBM and Facebook have already found ways in which to integrate this burgeoning technology into their existing digital frameworks.

In a similar vein, if given the right conditions, Wences believes that cryptocurrency too could become an industry staple within the coming few years.

“It may work, it might not work. We are in the equivalent of 1992 for the internet. We need a nonpolitical standard of value and we don’t have one. So a world in which we [see it] is a world [in which] when you ask for the price of Turkish lira, you get a price in bits, when you ask for the price of a barrel of oil, you get a price in bits, when as for the price of the U.S. dollar you get a price in bits.”

Cesares’ latest observations come in the wake of the Venezuelan crisis wherein the value of the country’s national currency (the Bolivar) has dipped to a point where it has effectively become worthless.

While Wences does not view Bitcoin or any other crypto as being an asset capable of replacing fiat altogether, he does view it as a legitimate alternative means of facilitating payments in countries where people are looking for newer economic avenues.

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