Jon Matonis, co-founder of Bitcoin Foundation, gave an interview to Business Insider where he reassured the readers about his strong beliefs in Bitcoin. Technically BTC has dropped more than 70% from last year’s ATH, hence many people who started criticizing by calling it a bubble are now saying that the current situation proves the fact that it was in a bubble. Matonis addressed these concerns by stating that the real bubble is in the bond and stock markets, not in crypto assets:

“To the people who say bitcoin is a bubble, I would say bitcoin is the pin that’s going to pop the bubble. The bubble is the insane bond markets and the fake equity markets that are propped up by the central banks. Those are the bubbles.”

Matonis also expressed his concerns regarding cryptocurrency regulations, claiming that no one is forcing potential customers to chip in to initial coin offerings, if someone wants to participate, they have to evaluate the risks by doing own research. It is quite interesting though, that despite Matonis’ obvious skepticism towards the above mentioned markets, which are regulated in some way by banks, he clearly stated that he finds banks entering the crpyto world largely favorable:

“I think it’s fabulous that they’re getting into it because it brings in new liquidity,” adding that it would assist to “mature the market and reduce volatility”.

A reasoning for this could be that Banks can’t inflate there currencies, but can offer services on top of them and could also bring in additional funds and investors.

We at WalletInvestor are not seeing these things such black or white. As we mentioned before, regulations are needed, but over-regulation could be dangerous. The current international approach to digital assets is not clear yet, but it could have a healthy effect to the markets if they are applied reasonably.